Gildan and HanesBrands Agree to Combine To Create a Global Basic Apparel Leader
Reuters
08/13
Aug 13 (Reuters) - Gildan Activewear Inc :: *GILDAN AND HANESBRANDS AGREE TO COMBINE TO CREATE A GLOBAL BASIC APPAREL LEADER *HANESBRANDS INC - DEAL VALUED AT $2.2 BILLION EQUITY, $4.4 BILLION ENTERPRISE *HANESBRANDS INC - EXPECTED $200 MILLION ANNUAL COST SYNERGIES WITHIN THREE YEARS *HANESBRANDS INC - SHAREHOLDERS TO RECEIVE 0.102 GILDAN SHARES, $0.80 CASH *HANESBRANDS INC - SHAREHOLDERS TO OWN 19.9% OF GILDAN SHARES *HANESBRANDS INC - GILDAN OBTAINS $2.3 BILLION COMMITTED DEAL FINANCING *HANESBRANDS INC - OFFER IMPLIES $6.00 PER HANESBRANDS SHARE, 24% PREMIUM *HANESBRANDS INC: GILDAN IS REAFFIRMING ITS FULL YEAR 2025 REVENUE AND EPS GUIDANCE *HANESBRANDS INC: GILDAN OUTLOOK 2026-2028 NET SALES GROWTH AT COMPOUND ANNUAL GROWTH RATE IN 3-5% RANGE *HANESBRANDS INC: GILDAN INTENDS TO INITIATE REVIEW OF STRATEGIC ALTERNATIVES FOR HANESBRANDS AUSTRALIA, INCLUDING SALE OR OTHER TRANSACTION *HANESBRANDS INC: DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO GILDAN'S ADJUSTED DILUTED EPS *HANESBRANDS INC: GILDAN OUTLOOK 2026-2028 ADJUSTED DILUTED EPS CAGR IN LOW 20% RANGE