Hanes to gain PBG

Wilson Asset Management

On Thursday, American clothing company Hanes made a $1.1 billion all-cash takeover bid for clothing manufacturer Pacific Brands Limited (ASX: PBG). Pacific Brands Directors unanimously recommended the transaction to shareholders with Chairman Peter Bush stating it was an opportunity for shareholders to realise attractive value for their shares. Shares in Pacific Brands closed up 32.4% for the week. We own Pacific Brands in the investment portfolio.


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