Dive Summary:

• Maidenform Brands and Hanes have reached a tentative agreement which will allow HanesBrands to acquire the company for a reported $575 million, according to figures released by Retailing Today.
• Many industry experts believe the deal between the two sides undervalues Maidenform Brands, and several law firms issued press releases asserting the claim.
• The acquisition, if approved, will establish Hanes as a retail juggernaut in intimate apparel. “We look forward to adding Maidenform’s exciting brands and deep product expertise,” stated Hanes CEO Richard A. Noll.

From the article:

HanesBrands agreed to acquire Maidenform Brands for $23.50 a share last week in a deal that appears to make a lot of sense from a business perspective given the companies’ respective product offerings and marketplace strengths. The price HanesBrands offered and the Maidenform board accepted represented a 30% premium to the average closing price of Maidenform over the past 30 days.