Aramark Corp., a provider of food services and uniforms, said Tuesday it agreed to be bought by Chairman Joseph Neubauer and a group of private equity and investment bank firms for $8.3 billion, including the assumption of about $2 billion in debt.
Aramark shareholders will get $33.80 in cash for each share, which represents a premium of 2.3 percent over the stock's Monday closing price of $33.05. In the past year, the shares have traded between $24.35 and $34.95.
Aramark's board agreed to the deal and plans to advise shareholders to accept the terms.
The private equity groups involved include GS Capital Partners, CCMP Capital Advisors and JPMorgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC. They plan to finance the deal using investment funds and borrowings.
The deal is expected to close by late 2006 or early next year, subject to shareholder and regulatory approvals.
In electronic premarket trading, Aramark shares slipped 25 cents to $32.80.