We are investigating the fairness of the proposed sale of HanesBrands Inc. (NYSE: HBI) (“Hanes”) to Gildan Activewear (“Gildan”) pursuant to which each Hanes shareholder will receive 0.102 common shares of Gildan and $0.80 in cash for each share of HanesBrands common stock.
Based on the closing price of Gildan and HanesBrands’ common stock on August 11, 2025, the offer implies a value of $6.00 per HanesBrands share, which is well below the 52-week high for Hanes of $9.10 per share, and thus suggests an opportunistic purchase.
Additionally, as further detailed below, several Hanes shareholders have expressed disappointment in the deal price on SeekingAlpha.
If you remain a Hanes shareholder and have concerns about the fairness of the proposed merger, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On August 13, 2025, Hanes announced that it had agreed to be sold to Gildan in a transaction under which each Hanes shareholder will receive 0.102 common shares of Gildan and $0.80 in cash for each share of HanesBrands common stock.
Based on the closing price of Gildan and HanesBrands’ common stock on August 11, 2025, the offer implies a value of $6.00 per HanesBrands share, which is well below the 52-week high for Hanes of $9.10 per share, and thus suggests an opportunistic purchase.
Additionally, several Hanes shareholders have expressed disappointment in the deal price on SeekingAlpha.
One Hanes investor asserted: “What a terrible deal for HBI.”
Another Hanes investor commented that “What surprises me is that HBI was, I believe, just turning around.”
“We are investigating whether the Hanes Board of Directors acted in the best interests of Hanes shareholders in approving the merger,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the exchange ratio agreed upon is fair to Hanes shareholders, and whether all material information regarding the transaction has been fully disclosed.”