Uniform rental firm Cintas Corp has made a $5.1 billion takeover offer for uniform supplier UniFirst, the Wall Street Journal reported on Tuesday. Cintas has offered to pay $275 per outstanding common and Class B share,

Shares of UniFirst on Tuesday surged following a report on a $5.1 billion takeover offer from competitor Cintas, a maker of workplace products, at a significant premium price. The stock was up 29% to $218 in pre-market trading.

Cintas, a maker of workplace products, made a $5.1 billion offer for UniFirst that has been rebuffed multiple times, The Wall Street Journal reported. Shares in the smaller uniform su

(Reuters) -Uniform rental company Cintas said on Tuesday it has submitted an offer to buy UniFirst, valuing the uniform supplier at about $5.3 billion. Cintas has offered to pay $275 for each outstanding common and Class B share.