HanesBrands and Gildan agree to combine to create a global basic apparel leader

Client(s) Hanesbrands Inc.

Jones Day advised Hanesbrands Inc. in the $2.2 billion acquisition of Hanesbrands by Gildan Activewear Inc.

Under the terms of the merger agreement, which had been unanimously approved by the Boards of Directors of Gildan and HanesBrands, HanesBrands shareholders received 0.102 common shares of Gildan and $0.80 in cash for each share of HanesBrands common stock. The Board of Directors of HanesBrands recommended that the HanesBrands shareholders vote in favor of the transaction.