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HanesBrands, a leading marketer of everyday basic apparel based in Winston-Salem, N.C., today announced that it has entered into a definitive agreement to acquire Maidenform Brands Inc. for $23.50 per share, a 30 percent premium to Maidenform's average closing price over the past 30 days.
The all-cash transaction is expected to be accretive to earnings per share in the first 12 months after closing and is projected to deliver full benefits within three years of more than $500 million in incremental annual sales, $0.60 in EPS, $80 million of operating profit, and $65 million of free cash flow. After the transaction closes, HanesBrands' pro forma projected annual revenue would be more than $5 billion.
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- Companies:
- Hanes Printables
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