U.S. clothes giant HanesBrands makes $840m play for Australia rival

U.S. clothes giant HanesBrands makes $840m play for Australia rival

The HanesBrands logo as seen on the company website.

Australian underwear and t-shirt maker Pacific Brands Ltd said on Thursday it has agreed to an all-cash buyout from U.S. clothing company HanesBrands Inc, valuing the company at A$1.1 billion ($836 million).

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