(Reuters) – French industrial laundry specialist Elis confirmed on Friday that it had approached Vestis, the former uniform rental division of Aramark, with a view to a potential acquisition.
The company said in a statement that no agreement has been reached yet.
Elis approached Vestis a few weeks ago, sources previously said on condition of anonymity, without specifying the details of the offer.
It is not certain that Vestis will approve a deal with Elis, the sources added. Another interested party could also approach the American group and it is possible that no deal will be sealed.
On the Paris Stock Exchange, Elis fell by more than 16% on Friday after this news, which caused Vestis shares to rise by 15% in New York the day before.
Vestis, which has a market capitalization of around $3.3 billion (€2.97 billion), has become a takeover target since its recent stock market underperformance linked to the loss of major clients.
Vestis did not respond to requests for comment.
(Written by Anriban Sen, Milana Vinn in New York and Anoushka Sakoui in London, Pauline Foret and Leo Marchandon, edited by Blandine Hénault and Sophie Louet)
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