TORONTO, Nov. 24, 2025 /CNW/ - The shareholders of Gildan Activewear Inc. (TSX: GIL) (NYSE: GIL) and Hanesbrands Inc (NYSE: HBI) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Hanesbrand will be exchanged for US$ 0.80 in cash and 0.102 shares of Gildan Activewear for each Hanesbrand share held.
The shares outstanding of Gildan Activewear will be increased to reflect the issuance of shares effective prior to the open of trading on December 2, 2025. The new shares outstanding of Gildan Activewear will be increased to 185,338,948 and IWF will remain 1.0 in the S&P/TSX indices.
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