Deals
Elis Is Said to Make Rebuffed Takeover Offer for UniFirst
- UniFirst rejects Elis proposal after soliciting interest
- US peer Vestis holding talks with Elis, drawing PE interest
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Elis SA, the Paris-listed provider of uniform and linen cleaning services, made an informal takeover proposal to US peer UniFirst Corp., according to people familiar with the matter, the second move by the French company to pursue an American acquisition.
Massachusetts-based UniFirst reached out to Elis to gauge its appetite for a deal after Elis’s takeover approach to rival Vestis Corp. became public last month, said the people, who asked not to be identified because discussions are private. The French company made a non-binding proposal for UniFirst, whose board rejected it in recent days, and the companies aren’t currently in talks, the people said.