Nomura Securities Reiterates Buy as Cintas Corp. (CTAS) Announces G&K Services Acquisition
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Baird Upgrades Cintas (CTAS) to Outperform
August 17, 2016 6:23 AM EDTBaird upgraded Cintas (NASDAQ: CTAS) from Neutral to Outperform with a price target of $140.00 (from $111.00).
For an analyst ratings summary and ratings history on Cintas click here. For more ratings news on Cintas click here.
Shares of Cintas closed at $112.99 yesterday.
... MoreUPDATE: Barclays Upgrades Cintas (CTAS) to Overweight
August 17, 2016 6:22 AM EDT(Updated - August 17, 2016 11:43 AM EDT)
Barclays upgraded Cintas (NASDAQ: CTAS) from Equalweight to Overweight with a price target of $130.00 (from $110.00). Analyst Manav Patnaik thinks its agreement to acquire G&K makes a lot of sense.
"We have always viewed CTAS as a premium 'Industrials' idea given its strong CFs & consistent capital returns, but mainly because of its... More
Notable Mergers and Acquisitions 8/16: (AIG)/(ACGL) (PX) (STEM) (CTAS)/(GK) (CXO) (MGM)
August 16, 2016 9:49 AM EDT*** American International Group, Inc. (NYSE: AIG) today announced that it has entered into an agreement to sell its 100 percent interest in United Guaranty Corporation (UGC) to Arch Capital Group Ltd. (NASDAQ: ACGL), a Bermuda-based writer of specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance, on a worldwide basis.
Total consideration for the transaction is $3.4 billion, consisting of $2.2 billion of cash, $250 million of newly issued Arch perpetual preferred stock, and $975 million of newly issued Arch convertible non-voting... More
Cintas Corp. (CTAS) to Acquire G&K Services (GK) for $97.50/Share
August 16, 2016 8:32 AM EDT(Updated - August 16, 2016 8:32 AM EDT)
Cintas Corp. (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... More
