Investors bid for uniform maker ARAMARK's stock at $32 per share
02 May '06
1 min read
Employee clothing & apparel provider ARAMARK Corporation announced that its Board of Directors has received a proposal from a group of investors led by Joseph Neubauer, Chairman and Chief Executive Officer of the Company, to acquire all of the outstanding shares of the Company for $32 per share in cash.
The Board of Directors of the Company has formed a Special Committee of independent directors to consider the proposal.
The Committee will retain independent financial advisors and legal counsel to assist it in its work.
The Board of Directors cautions the Company's stockholders and others considering trading in its securities that the Board has just received the proposal and the Board with respect to the Company's response to the proposal has made no decisions.
There can be no assurance that any definitive offer will be made, that any agreement will be executed or that any transaction will be approved or consummated.
ARAMARK is a leader in professional services, providing award-winning food services, facilities management, and uniform and career apparel to health care institutions, universities and school districts, stadiums and arenas, and businesses around the world. ARAMARK has approximately 240,000 employees serving clients in 19 countries.
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