(Reuters) -HanesBrands said on Wednesday it would sell its sportswear brand Champion to Authentic Brands Group in a deal valued at $1.2 billion, as the company looks to streamline business and focus on its innerwear categories. Shares of HanesBrands surged 15.6% in premarket trading. The deal could reach up to $1.5 billion through an additional […]
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Authentic Brands Group Initially Agrees to Buy Champion From Hanesbrands Inc.
After a bidding process that went on for weeks, Authentic Brands Group came out the winner after agreeing to buy the athletic apparel label Champion from Hanesbrands Inc. for a little more than $1 billion. “Champion agreed to be acquired by ABG last Friday or Monday,” said a source knowledgeable about the negotiations. “They should […]