King & Spalding advised HanesBrands in its definitive agreement to acquire Maidenform Brands, Inc., for approximately $575 million dollars in cash, on an enterprise-value basis.
Details of the transaction are available here.
The transaction has been unanimously approved by the boards of directors of both companies. The acquisition is subject to Maidenform shareholder approval, regulatory approval and other customary closing conditions. It is expected to close in the fourth quarter of 2013.
HanesBrands is a leading marketer of everyday basic apparel under some of the world’s strongest apparel brands, including Hanes, Champion, Playtex, Bali, JMS/Just My Size, barely there, Wonderbra and Gear for Sports. Ranked No. 512 on the Fortune 1000 list, the company has approximately 51,500 employees in more than 25 countries.
Maidenform sells intimate apparel bras, shapewear and panties under such brands as Maidenform, Flexees, Lilyette, Self Expressions and Sweet Nothings, as well as Donna Karan and DKNY under license.
The King & Spalding legal team involved in the transaction consisted of the following lawyers:
Mergers and Acquisitions:
Bill Baxley (partner, Atlanta)
Jack Capers (partner, Atlanta)
Robert Leclerc (senior associate, New York)
Magdeline Drozd (associate, Charlotte)
Nathan Mihalik (associate, Atlanta)
Securities:
Keith Townsend (partner, Atlanta)
Carrie Ratliff (associate, Atlanta)
Litigation:
Michael Smith (partner, Atlanta)
Antitrust:
Jeffrey Spigel (partner, Washington)
John Carroll (senior associate, Washington)
Benefits:
Eleanor Banister (partner, Atlanta)
Mark Kelly (counsel, Atlanta)
Ryan Gorman (associate, Atlanta)
Tax:
John Sweet (partner, New York)
