BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Hanesbrands Soars on Potential Gildan Activewear Buyout
Hanesbrands Soars on Potential Gildan Activewear Buyout
10
1
BTCCSquare news:
Hanesbrands Inc. (HBI) surged 27.5% following reports of a potential $5 billion acquisition by Gildan Activewear. The deal, which includes Hanesbrands' $2.29 billion debt, represents a significant premium to its current enterprise value of $4.2 billion. Market participants are now weighing the arbitrage opportunity as the stock remains below the implied offer price.
Gildan's bid comes at a pivotal moment for Hanesbrands, which recently outperformed earnings expectations despite an 85% decline from its 2021 peak. The Canadian apparel giant appears to be betting on its ability to extract value where current management has struggled, capitalizing on what may be a turning point for the beleaguered innerwear manufacturer.
By:
