JPMorgan Downgrades G&K Services Inc. (GK) to Neutral
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G&K Services Announces Agreement to Be Acquired by Cintas in $2.2 Billion All-Cash Transaction; Reports Record Fiscal 2016 Fourth Quarter Results
August 16, 2016 8:35 AM EDTG&K Services Agrees to be Acquired for $97.50 Per Share
Purchase Price Represents Nearly 20 Percent Premium to the Stocks All-Time Closing High and 14.0x LTM EBITDA Multiple1
Full-Year Earnings Reach Record $3.61 Per Diluted Share
Full-Year Cash Flow from Operations Grows 42 Percent to Record $134 Million
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) today announced that its Board of Directors has unanimously approved a definitive agreement pursuant to which Cintas Corporation (NASDAQ:... More
