(Reuters) – The same rental firm Cintas Company (NASDAQ:) has made a $5.1 billion acquisition of Unifirst supplier UniFirst (NYSE:), the Wall Street Journal reported on Tuesday.
Cintas offered to pay $275 per common share and Class B, the report added, citing letters presented to the board of UniFirst.
The offer price represents a 62.4% premium to UniFirst's close on Monday.
UniFirst shares rose nearly 40% to $236 in early trading on Tuesday.
Cintas and UniFirst did not immediately respond to a Reuters request for comment.