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Why Hanesbrands Rocketed Higher Today

TheMotleyFool 
0 0 12.08.25
Why Hanesbrands Rocketed Higher TodayPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png
 

Shares of Hanesbrands (NYSE: HBI) rocketed higher on Tuesday, appreciating 27.5% as of 3:02 p.m. ET.

One doesn't normally associate an underwear manufacturer with those types of one-day gains, and indeed there was a unique news item regarding Hanesbrands today: a potential buyout offer.

Today, the Financial Times reported that Gildan Activewear (NYSE: GIL), the Canada-based owner of the Gildan custom T-shirt brand and a licensor of other brands, such as Champion, was going to make a bid to acquire Hanesbrands for an enterprise value of around $5 billion, including Hanesbrand's $2.29 billion in debt.

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Source Fool.com

Gildan Activewear Inc. Stock

€49.00
-0.410%
The price for the Gildan Activewear Inc. stock decreased slightly today. Compared to yesterday there is a change of -€0.200 (-0.410%).
With 22 Buy predictions and not a single Sell prediction Gildan Activewear Inc. is an absolute favorite of our community.
With a target price of 65 € there is a positive potential of 32.65% for Gildan Activewear Inc. compared to the current price of 49.0 €.
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