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flag Gildan acquires HanesBrands for $2.2 billion, pressured by activist investors to boost innovation.

flag Gildan, a Canadian clothing manufacturer, is acquiring HanesBrands for about $2.2 billion, driven by pressure from large investors. flag This move, spurred by activist investors Browning West LP and Barington Capital Group, aims to boost innovation and expand product offerings. flag HanesBrands shareholders will receive Gildan stock and cash for their shares, and the deal is expected to close later this year or early next.

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