01:04 PM EDT, 10/04/2024 (MT Newswires) -- UniFirst ( UNF ) confirmed Friday its discussions with Elis about a rumored takeover offer have ended.

Elis made a a non-binding offer to acquire UniFirst ( UNF ) as part of its potential entry into the US market. However, UniFirst's ( UNF ) board recently rejected Elis' non-binding proposal, Bloomberg reported earlier.

UniFirst ( UNF ) said that at this time it does not expect to hold any future talks with the French company.

Earlier in the day, Elis said such discussions with both UniFirst ( UNF ) and Vestis (VSTS) have been terminated.

UniFirst ( UNF ) said it believes it has "significant long-term potential" and is excited about its investments.

UniFirst ( UNF ) shares were marginally lower in recent trading.

Price: 196.82, Change: -0.19, Percent Change: -0.10