HanesBrands Inc. has announced a merger agreement with Gildan, under which HanesBrands shareholders will receive 0.102 common shares of Gildan and $0.80 in cash for each share of HanesBrands common stock. The merger will result in the creation of a global basic apparel leader, combining the strengths of both companies to drive significant value creation. The transaction, approved by both companies' Boards of Directors, is expected to close in late 2025 or early 2026. Gildan intends to refinance HanesBrands' existing debt, totaling approximately $2 billion. The cash portion of the acquisition is anticipated to be around $290 million.
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