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Cintas (CTAS) Stock Down, Oppenheimer Anticipates 'Smooth' G&K Acquisition

NEW YORK (TheStreet) -- Shares of Cintas (CTAS) were lower in late-afternoon trading on Friday even as Oppenheimer analysts said they see the Cincinnati-based uniform provider's $2.2 billion acquisition of G&K Services (GK) as "opportunistic" and expect a "smooth" multi-year integration.

The acquisition is slated to be complete by the end of 2016 and Oppenheimer said it "anticipates accretion in the second year post closing."

Four years after closing, the deal could accrue $130 million to $140 million of annual synergies, Oppenheimer noted.

"The acquisition should provide sourcing efficiencies/access to additional processing capacity/increased route...


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