Hanesbrands stock was rising after the consumer goods company said it is evaluating strategic options for its global Champion business, including a potential sale.
In a news release, the company, referring to the Champion business, said it “will consider a broad range of alternatives to maximize shareholder value” including a potential sale, other strategic transaction, or continuing to operate the brand as part of the larger company. That said, there is no assurance that the assessment process will result in a transaction or other outcome, management said. No timetable for the completion of the process has been set, and it may be terminated at any time, according to the company.
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