Why hanesbrand 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.

Hanesbrands, a leading global marketer of everyday basic apparel, has agreed to be acquired by Canadian company Gildan Activewear in a deal valued at approximately $4.4 billion. This acquisition, which is expected to close in the second half of 2021, will create a significant player in the apparel industry. The takeover has sparked significant interest in Hanesbrands' stock, with shares surging due to the potential deal and strong earnings reported by the company. Market watchers have been closely monitoring Hanesbrands' stock movements, which have been among the biggest midday and premarket movers in recent days. The potential acquisition by Gildan has been a major topic of discussion on Wall Street, with analysts and investors speculating about the future of the combined company.