Exclusive-France's Elis has bid for US uniform supplier Vestis, sources say By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 05 2024
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Source: Investing.com
Elis SA's Acquisition Attempt: French workplace supplies provider Elis SA has made an acquisition offer to Vestis, the former uniform rentals business of Aramark, which has a market value of approximately $3.3 billion. The discussions are confidential and there is no guarantee that a deal will be finalized.
Vestis' Market Performance: Vestis' shares surged nearly 15% following the news of the acquisition offer, despite a significant decline in its stock value this year due to loss of key customers and a class action lawsuit alleging misleading growth forecasts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
