UniFirst and Cintas disclosed that they certified with the Federal Trade Commission on Friday that each had substantially complied with the regulator's second request. The two uniform retailers entered into a timing agreement with the FTC under which they agreed not to consummate the deal before Dec. 11 unless they receive written notice from the FTC before that date that it has closed its investigation, according to an 8-K filing on Tuesday. The parties also disclosed on July 2 that they received a Supplementary Information Request from the Canadian Competition Bureau in connection with that agency's review of the deal, and on Sept. 29 they certified to the regulator that they had completed their response to the SIR. Cintas continues to expect its $5.5 billion purchase of UniFirst to be completed by the end of the year. Cintas agreed in March to acquire smaller rival UniFirst for $310 per share in cash and stock, representing an enterprise value of about $5.5B.
Cintas CorporationCintas certified substantial FTC compliance on its $5.5B acquisition of UniFirst, advancing regulatory clearance for the deal.
Unifirst CorporationUniFirst certified substantial FTC compliance and completed its Canadian SIR response, moving its acquisition by Cintas closer to closing.
