HanesBrands’ enticing bid for Pacific Brands

The tempting takeover offer of the tentatively recovering Pacific Brands by US retail giant, HanesBrands, is an offer the Bonds owner can’t refuse. It would be a tougher decision for Pacific Brands shareholders to choose between a Tim Tam and a chocolate teddy bear biscuit than to accept the HanesBrands takeover offer. It certainly didn’t seem to take Pacific Brands’ directors too long to endorse the unsolicited $1.1 billion takeover offer based on an offer price of $1.15 per share. Pacifi

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