(RTTNews) - UniFirst Corporation (UNF) shares surged 17.84%, closing at $200.52, up $30.36, after the company confirmed it received an unsolicited, non-binding cash acquisition proposal from rival Cintas Corporation.
The stock opened near $182.00, touched an intraday high of about $210.00, and recorded a low near $180.50, compared with a previous close of approximately $170.16. UNF is listed on the NYSE.
The price increase followed UniFirst's confirmation that it received a $275 per share all-cash offer from Cintas to buy all outstanding common and Class B shares. The UniFirst board engaged independent financial and legal advisors and is reviewing the proposal consistent with its fiduciary duties, but has not recommended any shareholder action at this time.
Separately, UniFirst said it will announce fiscal 2026 first quarter results on January 7, 2026, ahead of market open, followed by a conference call.
Trading volume was indicating strong investor interest in both the takeover proposal and the upcoming earnings catalyst. UNF's 52-week range recently spanned notable levels as the acquisition narrative and earnings timing drew market attention.
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