France’s Sodexo SA (EPA:EXHO) is considering a takeover over U.S. food catering rival Aramark, Bloomberg reported on Wednesday, sending the latter’s shares up sharply in aftermarket trade.
Aramark Holdings (NYSE:ARMK) surged more than 12% to $41.77- an over three-year high.
Sodexo has been discussing the potential takeover on and off in recent months, Bloomberg reported, citing people with knowledge of the matter. It was not immediately clear what the value of the proposed takeover would be.
Aramark has a market capital of $9.83 billion.
Sodexo, who recently catered to the 2024 Olympics in Paris, is seeking to expand further into international markets.
Reports earlier this month showed French workplace supplies provider Elis Services SA (EPA:ELIS) had approached Vestis Corp (NYSE:VSTS), the former uniform rentals business of Aramark, with an acquisition offer.
