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FTC staff said to signal suit against Cintas-UniFirst deal
Semafor, citing people familiar with the matter, says the FTC has indicated it will sue to block Cintas’s proposed purchase of UniFirst. The commission has not voted. Reuters carried the report.
- Semafor is now reporting this
- New headline Was: “FTC to sue to block Cintas-UniFirst deal, Semafor reports”
- Our desk filed its story
The Federal Trade Commission has indicated to Cintas Corp. that it intends to sue to block the company’s proposed purchase of UniFirst Corp., Semafor reported Tuesday, citing people familiar with the matter1. Reuters carried the Semafor account.
Semafor said the commission has not voted on whether to file a lawsuit and that a formal “last-rites” meeting has not been held1. It said FTC staff have privately expressed concerns about the two companies’ combined market share1.
An FTC spokesperson told Semafor: “The FTC has not voted on a final decision in this transaction. Any decision will not be communicated through the press”1. Semafor said Cintas did not respond to requests for comment1.
Semafor described Cintas as an $84 billion company that provides uniforms, cleaning supplies, and office materials, and said Cintas had sought to buy UniFirst for years1. After Semafor’s report, UniFirst shares fell 12 percent and Cintas shares fell 6 percent, the outlet said1.
No FTC complaint was reviewed for this story1.
