Elis is Said to Make Rebuffed Bid for UniFirst Amid Vestis Talks: Bloomberg

Elis SA, the French workplace supplies provider, made an informal takeover proposal to U.S. peer UniFirst Corp (NYSE: UNF), Bloomberg News reported on Thursday, citing people familiar with the matter.

Massachusetts-based UniFirst approached Elis to assess its interest in a deal after Elis’s takeover approach to rival Vestis Corp (NYSE: VSTS) became public last month, the report added.

At the same time, Elis and Vestis are still holding exploratory talks about a potential deal, Bloomberg said.

Elis, UniFirst, and Vestis didn’t immediately respond to requests for comment outside regular business hours.

Elis and Vestis confirmed the interest about a month ago after Reuters first reported the acquisition offer.

Elis, which has a market value of about 9.2 billion euros ($10.15 billion) including debt, is a provider of workplace supplies and offers maintenance services for uniforms.

($1 = 0.9060 euros)

(Source: ReutersReuters)

Edward Cooke

Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.

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