The UniFirst/Cintas spread narrowed to $66.98 from $68.15 after the FTC reportedly has not signaled it will sue to block the $5.5B deal. Merger arb is repricing regulatory risk lower. $CTAS $UNF

What happened: The FTC has not told Cintas (CTAS) that it plans to sue to block its $5.5 billion purchase of UniFirst (UNF), according to a report. Key numbers: Deal value $5.5 billion. UniFirst/Cintas spread narrowed to $66.98 on Thursday from $68.15 on Wednesday. Why it matters: The narrower spread suggests the market sees reduced risk that the regulator will move to block the transaction. Coverage: 3 outlets in 24h

The FTC has not told Cintas (CTAS) that it plans to sue to block its $5.5 billion purchase of UniFirst (UNF), according to a report.

The narrower spread suggests the market sees reduced risk that the regulator will move to block the transaction.