
Retail
Gildan buys Hanesbrands for $2.2 billion to grow basic apparel
Gildan Activewear has agreed to acquire U.S. undergarment maker Hanesbrands in a cash-and-stock deal valued at $2.2 billion, the companies announced Wednesday. The Canadian apparel manufacturer will pay roughly $6 per Hanesbrands share, a 24% premium to Monday’s closing price, in a move aimed at strengthening its