Gildan Activewear will acquire Hanesbrands for 5 billion US dollars.

On Tuesday, there were reports that Gildan Activewear is set to acquire Hanesbrands for approximately $5 billion. This acquisition will significantly enhance Gildan's market position in the basic apparel sector. Hanesbrands currently has a market value of $17.1 billion, and its stock price has surged after the release of a strong second-quarter financial report. The report includes a sales target of $3.53 billion for 2025.