Authentic Brands (AUTH) has an informal agreement to buy athletic apparel label Champion from Hanesbrands (HBI) for just over $1B, WWD’s Deborah Belgum reports. According to a source, “Champion agreed to be acquired by ABG last Friday or Monday. They should close around the end of May or early June.” Sources say that G-III Apparel (GIII), Delta Galil, Sycamore Partners, and WHP Global were also interested in buying Champion.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HBI:
- Hanesbrands signs three year extension with University of Mississippi
- What Lies Ahead for Hanesbrands (NYSE:HBI)? Wait to Find Out
- Hanesbrands price target lowered to $4.50 from $5 at Citi
- Hanesbrands price target lowered to $4 from $5 at Barclays
- Hanesbrands sees FY24 adjusted EPS 42c-48c, consensus 48c
