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Cintas Corporation to Acquire G&K Services

CINCINNATI--(BUSINESS WIRE)--Cintas Corporation (Nasdaq:CTAS) and G&K Services, Inc. (Nasdaq:GK) today announced that they have entered into a definitive agreement under which Cintas will acquire all outstanding shares of G&K Services for $97.50 per share in cash, for a total enterprise value of approximately $2.2 billion, including acquired net debt. The purchase price represents a premium of about 19 percent to the closing price per share of G&K Service’s common stock on August 15, 2016. G&K Services, with annual revenue of approximately $1 billion, is a service-focused market leader of branded uniform and facility services programs in the United States and Canada.