US underwear giant Hanes seeks Pacific Brands in A$1.1 bln offer

Jonathan Underhill
Wed, 27 Apr 2016

By Jonathan Underhill April 28 (BusinessDesk) - New York Stock Exchange-listed HanesBrands has offered to buy Pacific Brands through a scheme of arrangement that values the dual-listed clothing group at A$1.1 billion and has won the support of the target company's board. HanesBrands is offering A$1.15 a share for 100 percent of Pacific Brands, a 22 percent premium to its last traded price on the ASX and amounting to 2016 enterprise value-to-ebitda (earnings before interest, tax, depreciation and amortisation) multiple of 13.5 times. Pacif...

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