8-KOther EventsExhibits & Filings

CINTAS CORP 8-K Report, Corporate Update (Mar 6, 2017)

Filed March 6, 2017For Securities:CTAS

Summary

This 8-K filing from Cintas Corporation (CTAS) on March 6, 2017, provides crucial financial updates related to its previously announced acquisition of G&K Services, Inc. The primary purpose of this filing is to furnish the consolidated financial statements of G&K Services and pro forma financial information reflecting the impact of the acquisition. This information is essential for investors to understand the financial health and potential future performance of the combined entity. The acquisition, initially announced on August 15, 2016, involves Cintas acquiring G&K Services for $97.50 per share in cash. The filing includes audited and unaudited financial statements for G&K Services, offering a detailed look at its historical performance leading up to the acquisition. Additionally, pro forma financial statements are provided, which are critical for investors to model the expected financial position and results of operations of Cintas post-acquisition, incorporating G&K Services' financials.

Key Highlights

  • 1Cintas Corporation is providing financial statements for G&K Services, Inc., the target of its acquisition announced in August 2016.
  • 2The acquisition of G&K Services is an all-cash transaction valued at $97.50 per share.
  • 3The filing includes audited consolidated financial statements of G&K Services for fiscal years 2014, 2015, and 2016.
  • 4Unaudited condensed consolidated financial statements for G&K Services, including the three and six months ended December 31, 2016, are also provided.
  • 5Unaudited pro forma condensed consolidated financial information reflecting the combined entity post-acquisition is included.
  • 6This pro forma information allows investors to assess the expected financial impact of the G&K Services acquisition on Cintas.
  • 7The closing of the acquisition is subject to customary conditions, including antitrust approvals in the U.S. and Canada.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide investors with the audited and unaudited financial statements of G&K Services, Inc., the company Cintas is acquiring, as well as pro forma financial information that shows how the combined company is expected to perform financially after the acquisition.

This filing doesn't provide a direct analysis of the financial impact but includes unaudited pro forma financial information. Investors can use this pro forma data, which combines Cintas's and G&K Services' financials, to estimate the expected revenue, expenses, and overall financial position of the combined entity post-acquisition.

The acquisition was initially announced on August 15, 2016, and is proceeding, subject to customary closing conditions, including the receipt of antitrust approvals in the United States and Canada. This filing provides updated financial information related to the transaction.

Cintas is acquiring G&K Services for $97.50 per share in cash for each outstanding share of common stock.