Hanes Puts Up $575M To Acquire Maidenform

Law360, New York (July 24, 2013, 1:14 PM EDT) -- Hanesbrands Inc. said Wednesday that it will buy lingerie company Maidenform Brands Inc. for $575 million, a deal that will support and boost the North Carolina company's existing bra and underwear brands.

Maidenform is a snug fit for Hanes, as the retailer looks to bolster its operating margin next year through various strategies, including acquisitions, the company said. Hanes will pay $23.50 per Maidenform share, a 23 percent premium to Monday's closing price.

The all-cash deal is expected to close by the end of the fourth...
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