G&K Services Shareholders Approve Merger with Cintas
16 11월 2016 - 6:05AM
Business Wire
G&K Services, Inc. (NASDAQ: GK) today
announced that, based on preliminary voting results from its annual
meeting of shareholders held earlier today, the company’s
shareholders have approved the proposed merger with Cintas
Corporation (NASDAQ: CTAS).
Based on preliminary vote results, approximately 99 percent of
the G&K Services’ shares that were voted at the annual meeting
were cast in favor of the merger, representing approximately 87
percent of G&K’s outstanding stock as of the record date. The
final vote results, including the results of the other proposals
presented at the G&K Services’ Annual Meeting of Shareholders,
will be available on a Current Report on Form 8-K that the company
plans to file with the Securities Exchange Commission.
“Today’s vote demonstrates the strong support for this
transaction,” said Douglas A. Milroy, Chairman and Chief Executive
Officer. “This is a significant step toward closing the merger,
and, on behalf of the G&K’s board, I’d like to thank our
shareholders for their support.”
G&K Services continues to expect the merger to close not
later than the second quarter of calendar year 2017, subject to
obtaining required regulatory approvals and other customary closing
conditions.
About G&K Services,
Inc.G&K Services, Inc. is a service-focused market
leader of branded uniform and facility services programs in the
United States and Canada. Headquartered in Minneapolis, Minnesota,
G&K Services has 8,000 employees serving customers from 160
facilities in North America. G&K Services is a publicly held
company traded over the NASDAQ Global Select Market under the
symbol GK and is a component of the Standard & Poor’s SmallCap
600 Index. For more information visit www.gkservices.com.
Cautionary Statements Regarding Forward
Looking StatementsThis communication contains
“forward-looking statements” within the meaning of the federal
securities laws, including Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. The Private Securities Litigation Reform Act of
1995 provides a safe harbor from civil litigation for
forward-looking statements. Forward-looking statements by their
nature address matters that are, to different degrees, uncertain,
such as statements about the potential timing or consummation of
the proposed transaction with Cintas or the anticipated benefits
thereof, including, without limitation, future financial and
operating results. Forward-looking statements may be identified by
words such as "estimates," "anticipates," "projects," "plans,"
"expects," "intends," "believes," "seeks," "could," "should," "may"
and "will" or the negative versions thereof and similar expressions
and by the context in which they are used. Such statements are
based upon our current expectations and speak only as of the date
made. These statements are subject to various risks, uncertainties
and other factors that could cause actual results to differ from
those set forth in or implied by this press release. Factors that
may cause such a difference include, but are not limited to, risks
and uncertainties related to (i) the ability to obtain regulatory
approvals, or the possibility that it may delay the proposed
transaction or that such regulatory approval may result in the
imposition of conditions that could cause the parties to abandon
the proposed transaction, (ii) the risk that a condition to closing
of the merger may not be satisfied, (iii) the ability of G&K
Services and Cintas to integrate their businesses successfully and
to achieve anticipated cost savings and other synergies, (iv) the
possibility that other anticipated benefits of the proposed
transaction will not be realized, including without limitation,
anticipated revenues, expenses, earnings and other financial
results, and growth and expansion of the new combined company’s
operations, and the anticipated tax treatment, (v) litigation
relating to the proposed transaction that has been or could be
instituted against G&K Services or Cintas or their respective
directors, (vi) possible disruptions from the proposed transaction
that could harm G&K Services’ or Cintas’ business, including
current plans and operations, (vii) the ability of G&K Services
or Cintas to retain, attract and hire key personnel, (viii)
potential adverse reactions or changes to relationships with
clients, employees, suppliers or other parties resulting from the
announcement or completion of the merger, (ix) potential business
uncertainty, including changes to existing business relationships,
during the pendency of the merger that could affect G&K
Services’ and/or Cintas’ financial performance, (x) certain
restrictions during the pendency of the merger that may impact
G&K Services’ and/or Cintas’ ability to pursue certain business
opportunities or strategic transactions, (xi) continued
availability of capital and financing and rating agency actions,
(xii) legislative, regulatory and economic developments and (xiii)
unpredictability and severity of catastrophic events, including,
but not limited to, acts of terrorism or outbreak of war or
hostilities, as well as management’s response to any of the
aforementioned factors. These risks, as well as other risks
associated with the proposed transaction, are more fully discussed
in G&K Services’ filings. While the list of factors presented
here is, and the list of factors presented in G&K Services’
filings are, considered representative, no such list should be
considered to be a complete statement of all potential risks and
uncertainties. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
Consequences of material differences in results as compared with
those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems,
financial loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on G&K
Services’ or Cintas’ consolidated financial condition, results of
operations, credit rating or liquidity. Neither G&K Services
nor Cintas undertake any obligation to update any forward-looking
statements to reflect events or circumstances arising after the
date on which they are made, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20161115006386/en/
G&K Services, Inc.Jeff Huebschen,
952-912-5773Director, Investor
RelationsJeff.Huebschen@gkservices.com
G&K Services, Inc. (NASDAQ:GK)
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