By Elsa Ohlen
Hanesbrands stock soared in premarket trading following a media report that the U.S. underwear-maker behind Hanes and Playtex may soon be acquired by Gildan Activewear.
The companies are nearing a deal which would value Hanesbrands at about $5 billion, including debt, the Financial Times reported early Tuesday, citing people familiar with the matter. Hanesbrands had a market value of just over $1.7 billion coming into Tuesday trading.
Neither company immediately responded to a request for comment outside regular office hours.
Shares of Hanesbrands were up 38% to $6.62 while Gildan shares fell 8.5% to $46.62 in premarket trading.
Hanesbrands has had a rough year with shares down 41% amid soft sales in the past few quarters and the threat of increasing costs as a result of President Donald Trump's tariffs. However, it reported second-quarter earnings last week that beat expectations.
Meanwhile Gildan, which is known for its branded T-shirts, were trading at close to record high.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
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August 12, 2025 07:06 ET (11:06 GMT)
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