Hanesbrands shareholders approve merger with Gildan Activewear

Hanesbrands Inc. (NYSE:HBI) announced Tuesday that its shareholders have approved the company’s proposed merger with Gildan Activewear Inc. (NYSE:GIL), according to a statement based on a filing with the U.S. Securities and Exchange Commission.

At a special meeting held Tuesday, approximately 73.3% of Hanesbrands’ outstanding shares were represented either in person or by proxy. Of the shares voted, 243,902,443 were in favor of the merger proposal, 15,125,793 were against, and 328,335 abstained.

The approved merger involves Helios Merger Sub, Inc. merging with and into Hanesbrands , followed by the conversion of Hanesbrands into a Maryland limited liability company. The transaction also includes the merger of two Gildan subsidiaries with Helios Holdco, Inc., a Hanesbrands subsidiary, as outlined in the merger agreement dated August 13, 2025.

Shareholders also approved, on a non-binding advisory basis, the compensation that may be paid or become payable to Hanesbrands’ named executive officers in connection with the transaction. For this proposal, 237,264,812 shares were voted in favor, 21,208,003 against, and 883,756 abstained.

A proposal to adjourn the meeting to solicit additional proxies was not voted upon, as it was deemed unnecessary.

Separately, Hanesbrands reported that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on November 20, 2025, satisfying a key regulatory condition for the merger. The completion of the transaction remains subject to additional closing conditions, including receipt of further regulatory consents and approvals.

The information in this article is based on a press release statement and details disclosed in the company’s filing with the U.S. Securities and Exchange Commission.

In other recent news, HanesBrands Inc. reported third-quarter earnings that did not meet analyst expectations. The company announced a revenue decline of 1% to $891.7 million, falling short of the consensus estimate of $896.7 million. Adjusted earnings per share were reported at $0.15, missing the projected $0.16. HanesBrands attributed the revenue shortfall to an unexpected late quarter shift in replenishment orders from a major U.S. retail partner. Despite these challenges, the company experienced a 3% increase in adjusted operating profit, reaching $116 million. Additionally, the adjusted operating margin improved by 45 basis points to 13.0%. These developments highlight the company’s ongoing efforts to navigate market challenges.

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