Cintas Corp. (CTAS) to Acquire G&K Services (GK) for $97.50/Share
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Cintas Corporation to Acquire G&K Services
August 16, 2016 8:31 AM EDTCINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS) and G&K Services, Inc. (Nasdaq: GK) today announced that they have entered into a definitive agreement under which Cintas will acquire all outstanding shares of G&K Services for $97.50 per share in cash, for a total enterprise value of approximately $2.2 billion, including acquired net debt. The purchase price represents a premium of about 19 percent to the closing price per share of G&K Services common stock on August 15, 2016. G&K Services, with annual revenue of approximately $1 billion, is a... More
