FTC reportedly plans to sue to block Cintas–UniFirst merger

On Oct. 27, Reuters reported, citing a Semafor report and people familiar with the matter, that the FTC indicated it would sue to block Cintas’ proposed $5.5 billion acquisition of UniFirst, citing concerns about combined market share. The FTC had not voted. Reuters reported Cintas shares down about 5% and UniFirst down 8% that day.