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Stock impact report

UniFirst Sale Is Unlikely - Family Control May Continue To Block All Acquisition Offers [Seeking Alpha]

Unifirst Corporation (UNF) 
Last unifirst corporation earnings: 4/1 08:00 am Check Earnings Report
US:NYSE Investor Relations: investors.unifirst.com/investor-overview
Company Research Source: Seeking Alpha
UNF's dual-class share structure concentrates control with the founding family; a recent vote on new directors who supported strategic alternatives was supported by only 2% of B shares. Recent $275/share buyout offers from Cintas, including a new $350M break fee, are expected to again be rejected due to entrenched family interests, in my opinion. Market pricing implies a 40% chance of sale, but family voting history suggests the true probability is closer to 10%. AtomStudios/iStock via Getty Images UniFirst Corporation ( UNF ) is the third-largest uniform sales and rental company in the U.S., with $2.43 billion in revenues. The uniform rental market strongly benefits companies with operational density, which provides economies of scale. This dynamic is evident in market This article was written by Analyst's Disclosure: I/we have a beneficial short position in the shares of UNF either through stock ownership, options, or other derivatives. I wrote this article myself, and Show less Read more
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