1. Kahn Swick & Foti investigate HanesBrands' sale to Gildan. 2. HanesBrands shareholders to receive Gildan shares and cash. 3. The investigation questions the adequacy of the sale transaction.
While the sale of HanesBrands could diversify Gildan, the investigation suggests potential valuation issues, which historically can lead to volatility. Past incidents show that perceived undervaluation in acquisitions can temporarily depress stock prices until resolved.
The ongoing investigation into the sale involves significant monetary implications for GIL, influencing shareholder perceptions and stock price. This scenario warrants close monitoring, especially if it leads to changes in the deal structure.
This legal scrutiny may impact immediate investor sentiment but could stabilize once resolved. Similar investigations in past mergers typically dampened prices short-term but corrected later.
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of HanesBrands Inc. (NYSE:HBI) to Gildan Activewear Inc. (NYSE:GIL). Under the terms of the proposed transaction, shareholders of HanesBrands will receive for 0.102 common shares of Gildan and $0.80 in cash for each share of HanesBrands that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-hbi/ to learn more.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
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Kahn Swick & Foti, LLC
Lewis S. Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
855-768-1857
1100 Poydras St., Suite 960
New Orleans, LA 70163