Shareholders Approve Cintas Merger; FTC Issues Second Request for Deeper Review
UNF sits 81% above its 52-week low of $147.66 on elevated volume (2.8× avg).
Summary
UniFirst shareholders overwhelmingly approved the merger with Cintas, but the FTC has issued a Second Request for additional information, indicating a deeper antitrust review and potential delays.
Key Events · M&A and Partnerships · UNF
-
Shareholders Approve Merger
UniFirst shareholders overwhelmingly approved the merger agreement with Cintas Corporation at a special meeting on June 11, 2026, with over 99% of votes cast in favor of the proposal.
-
FTC Issues Second Request
The Federal Trade Commission (FTC) issued a Second Request for additional information to both UniFirst and Cintas, extending the waiting period under the Hart-Scott-Rodino Act and indicating a deeper antitrust review.
-
Merger Timeline Update
Despite the Second Request, UniFirst still expects the acquisition by Cintas to close in the second half of calendar 2026, subject to satisfaction of customary closing conditions and regulatory approvals.
Analysis · UNF · Trade & Services
While UniFirst shareholders overwhelmingly approved the merger with Cintas, the FTC's issuance of a Second Request introduces a new regulatory hurdle. This signals increased antitrust scrutiny, which could extend the merger timeline or lead to conditions for approval, adding uncertainty to the deal's completion.
At the time of this filing, UNF was trading at $268.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $4.8B. The 52-week trading range was $147.66 to $283.77. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.