Vestis gains amid takeover speculation

Vestis (NYSE:VSTS) quickly gained 4.3% amid some takeover speculation for the uniform rental company. 

Vestis (NYSE:VSTS) may have attracted a new round of takeover speculation, according to traders, who cited a Betaville "uncooked" alert that was circulating on Friday. 

The company that's speculated to be interested in Vestis (VSTS) may be considering a hostile takeover of the firm, according to the report, which cited people following the matter.

The speculation comes after Vestis (VSTS) on Tuesday appointed Jim Barber as president and chief executive officer. 

French competitor Elis (OTCPK:ELSSF) in early October said it ended discussions with Vestis (VSTS) and US peer UniFirst (UNF) over possible takeover offers. Reuters reported in December that private equity firms Advent International and Apollo Global (APO) were exploring a potential acquisition  of Vestis (VSTS).