Why gildan Is Trending Today?

Maryland State Retirement & Pension System recently sold 15,889 shares of Hanesbrands Inc. (NYSE:HBI). Canadian company Gildan Activewear has agreed to acquire Hanesbrands, a leading intimate apparel producer, for $2.2 billion. The acquisition, reported by The Wall Street Journal and Bloomberg, involves Gildan purchasing Hanesbrands, which previously closed a Romanian factory due to wage increases. Following the announcement, Hanesbrands' stock surged by 27.85% on the news of the $5 billion acquisition.