International. The company Sodexo intends to acquire its catering competitor in the United States, Aramark, according to Bloomberg, which caused the latter's shares to rise sharply in after-hours trading.
Aramark Holdings rose more than 12% to $41.77, a more than three-year high.
Sodexo has been discussing the potential acquisition from time to time in recent months, Bloomberg reported, citing people with knowledge of the matter. It was not immediately clear what the value of the proposed acquisition would be.
Aramark has a market cap of $9.83 billion, according to data from Investing.com.
Sodexo, which recently tasked with the 2024 Olympics in Paris, is looking to expand further into international markets.
Reports earlier this month showed that French workplace supply supplier Elis Services SA had approached Vestis Corp, Aramark's former uniform rental business, with a takeover offer.
