HanesBrands Seeks Strategic Options For Global Champion Business
Portfolio Pulse from Akanksha Bakshi
HanesBrands is exploring strategic options for its global Champion business, including a potential sale or other strategic transaction. The company has made significant structural improvements within Champion, distinguishing its innerwear and activewear businesses. The evaluation process is ongoing, with no set timeline. Financial advisors Goldman Sachs & Co. LLC and Evercore, along with legal advisors Jones Day and Kirkland & Ellis LLP, are assisting in this process.
September 19, 2023 | 2:30 pm
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HanesBrands is exploring strategic options for its Champion business, which could potentially lead to a sale. This has resulted in a 1.8% increase in HBI shares.
The news of HanesBrands exploring strategic options for its Champion business, including a potential sale, is directly related to the company. This kind of strategic move often leads to speculation and increased investor interest, which can drive up the stock price. In this case, HBI shares have increased by 1.8%.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100