The Ademi Firm is investigating HanesBrands (NYSE: HBI) for possible breaches of fiduciary duty and other violations of law in its transaction with Gildan.
Shareholders of HanesBrands will receive 0.102 Gildan shares and $0.80 cash for each HanesBrands share. The offer represents $6.00 per HanesBrands share and values HanesBrands at approximately $2.2 billion in equity value and $4.4 billion in enterprise value, based on Gildan’s closing stock price on August 11, 2025.
HanesBrands insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for HanesBrands by imposing a significant penalty if HanesBrands accepts a competing bid. We are investigating the conduct of the HanesBrands board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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