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Gildan Activewear to buy HanesBrands for $2.2B
Gildan Activewear is buying HanesBrands for $2.2 billion, the two companies said Wednesday.
The deal consists of 87% stock and 13% cash per every HanesBrands share, with the cash portion anticipated to be about $290 million. Gildan will pay for HanesBrands through $2.3 billion in transaction financing, through bridge facility and term loans.
The deal implies a $4.4 billion enterprise value for HanesBrands. Gildan CEO Glenn Chamandy said the combination will double Gildan’s revenue and create “scale that distinctly sets us apart.”
AAA Daily Fuel Gauge Report for Friday, 6/30/23
National Average Price for Regular Unleaded Current: $3.543; Month Ago: $3.579; Year Ago: $4.857. National Average Price for Diesel Current: $3.864; Month Ago: $3.946; Year Ago: $5.772.
