April 28 (Reuters) - Pacific Brands Ltd (PBG) :
- Acquisition proposal from Hanesbrands (PBG)
- Says Pacific Brands board unanimously recommends acquisition proposal from
Hanesbrands
- Entered into scheme implementation deed with Hanesbrands to acquire 100% of
Pacific Brands shares for A$1.15 per share in cash
- Expected that Pacific Brands shareholders will have the opportunity to vote
on scheme at a scheme meeting to be held in late June 2016
- Hanesbrands indicated that they consider tontine and dunlop flooring (tdf)
businesses as having limited strategic fit to them
- Hanesbrands indicated that it is their current intention to divest tdf as a
going concern post completion
- Expect the transaction will have limited impact on Pacific Brands continuing
operations and employees
