Gildan apparel at a store in Montreal, Quebec, Canada, on Friday, Dec. 15, 2023.
Graham Hughes | Bloomberg | Getty Images
U.S. undergarments-maker Hanesbrands has agreed to a takeover by Canada’s Gildan Activewear for a deal valued at $4.4 billion, including debt, the companies said on Wednesday.
Gildan will pay about $6 per Hanesbrands share, representing a 24% premium to Monday’s close and implying an equity value at $2.2 billion.
The combination is expected to double Gildan’s revenues and enhance its market position by leveraging the strong brand presence of Hanes in activewear, according to the statement.
