Cintas is offering $5.2 billion to acquire UniFirst, a smaller uniform supplier, after years of failed attempts. The bid includes a $275 per share offer, a 30% premium, with a $350 million reverse termination fee. UniFirst has not engaged in substantive talks, leading Cintas to make the offer public. UniFirst’s recent poor performance and pressure from activists, like Engine Capital, have increased the urgency for a deal. Cintas, a workplace products maker, believes a merger with UniFirst makes strategic sense and is confident in clearing regulatory hurdles. UniFirst’s shares surged over 30% in premarket trading on the news.

Read more at Yahoo Finance: Cintas Isn’t Taking Years of No for an Answer, Makes Fresh Bid for UniFirst