Cintas-UniFirst Merger Spread Narrows as FTC Shows No Immediate Intent to Block Deal
The arbitrage spread between Cintas (CTAS) and UniFirst (UNF) narrowed on Thursday following reports that the Federal Trade Commission (FTC) has not indicated plans to sue to block Cintas's proposed $5.5 billion acquisition of UniFirst. The deal spread tightened from $68.15 on Wednesday to $66.98, reflecting increased investor confidence regarding regulatory approval. The lack of an immediate antitrust challenge from the FTC suggests a smoother path toward closing the transaction than previously feared by market participants.
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Part of the story Cintas-UniFirst Merger Spread Widens Amid Reports of FTC Antitrust Lawsuit (2 articles)