05:46 AM EDT, 08/12/2025 (MT Newswires) -- Gildan Activewear ( GIL ) is closing in on a deal to acquire Hanesbrands ( HBI ) at nearly $5 billion including debt, Financial Times reported Tuesday, citing people familiar with the matter.

The deal discussions are at an advanced stage and could be finalized by the end of this week, though talks could still collapse, the report said.

Hanesbrands ( HBI ) had a market value of $1.7 billion at Monday's close and debt of about $2.5 billion as of June, according to the Financial Times.

Gildan Activewear ( GIL ) and Hanesbrands ( HBI ) did not immediately respond to MT Newswires' request for comment.

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