French workplace supplies provider Elis SA has made an offer to acquire Vestis, the former uniform rentals business of Aramark, according to sources cited by Reuters. This acquisition bid has led to a significant market reaction, with shares in Elis dropping 11% on Friday following the news. The offer was confirmed by Elis, which stated that it had approached Vestis for a potential acquisition. Vestis, a U.S.-based uniform supplier, is seen as a strategic fit for Elis, which specializes in uniform and linen cleaning services and workplace supplies. Vestis shares were halted and rose +12% after the offer.
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Elis Confirms It Approached Vestis for Potential Acquisition https://t.co/Z1n8aSuLlP
Elis, a provider of uniform and linen cleaning services and workplace supplies, says it made a preliminary approach to US rival Vestis about a potential acquisition https://t.co/JomiDRItmq