Keyword → ABM

Cintas Clinches $5.5 Billion UniFirst Acquisition, Creating Dominant North American Uniform Services Giant

Cintas Corporation announced Wednesday it has entered into a definitive agreement to acquire rival uniform maker UniFirst for $310 per share in a cash-and-stock transaction valued at approximately $5.5 billion, ending years of failed pursuit of the Croatti family-controlled company. The combined entity will serve roughly 1.5 million North American business customers and is expected to generate $375 million in annual operating synergies within four years.

ADP Report: Private Payrolls Rise 63,000 in February, Beating Estimates but Revealing Narrow Job Growth

The ADP National Employment Report released Wednesday showed U.S. private employers added 63,000 jobs in February, topping consensus estimates of 50,000 and improving from a downwardly revised 11,000 in January. However, gains were concentrated almost entirely in construction and education and health services, with professional and business services shedding 30,000 positions, raising questions about underlying labor market breadth ahead of Friday's official nonfarm payrolls report.