Gildan Activewear Acquires HanesBrands: Shareholders Approve Terms of $2.2 Billion Deal

Shareholders of Gildan Activewear and HanesBrands have agreed to the terms of their planned combination. HanesBrands shareholders will receive $0.80 in cash and 0.102 Gildan Activewear shares per share. The deal, valued at $2.2 billion, aims to create a more efficient manufacturing base and expand the Hanes brand into activewear.