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Elis SA (OTCPK:ELSSF) confirmed it has made a preliminary acquisition approach for uniform supplier Vestis Corp.New York Stock Exchange: VSTS).
“Elis regularly considers a number of strategic opportunities,” the French uniform maker said in a statement on Friday. “There can be no guarantees.” that these discussions will result in the signing of a transaction or other agreement.”
Elis (OTCPK:ELSSF) confirmed the takeover approach following a Reuters report on Thursday that the French workspace provider had made an offer for Vestis (VSTS).
Betaville reported in July that there was speculation that Vestis (VSTS) had attracted interest from a larger rival to acquire it. A potential sale comes after activist investor Corvex Management disclosed a stake in May and Corvex director Keith Meister joined Vestis’ board in June.