top shadow

To receive more info from Maidenform about a particular product, Click on the photo (photo will enlarge).

Pure Genius tailored bra, style #7539.
Pure Genius tailored bra, style #7539.

Added: Feb 2011

current news

Maidenform: Lawsuits Over Hanes Buyout Deal

(Filed Under wholesale Lingerie News). Maidenform Brands Inc. is facing class actions filed by shareholders to block HanesBrands Inc.’s $575 million buyout of the company.

The terms of the buyout have Hanes paying $23.50 per Maidenform share, a 23 percent premium on Maidenform’s stock price when the deal was announced in July. Some investors say, however, that Maidenform’s sales have been down due to increased industry competition and Hanes unfairly took advantage of the intimate apparel company by coming up with a deal that undervalues what the intimate apparel giant is actually worth.

Those shareholders allege the Maidenform board breached its duty to shareholders by accepting the lowball offer in light of the company’s expectations for resurgence and future growth. Other investors have taken issue with transaction provisions that may deter acquisition offers from other companies, including a clause prohibiting Maidenform from soliciting bids and a mandatory $16.6 million fee Maidenform must pay to Hanes if it drops out of the deal.

While shareholder suits continue to be filed, Maidenform executives have only praised the buyout in statements to the press and investors.

“Not only does this all-cash transaction provide our shareholders with an immediate and substantial premium, it will also provide necessary resources and infrastructure to grow our business,” Maidenform CEO Maurice S. Reznick said in a recent statement. “This transaction is an important affirmation of the Maidenform brands, our prospects and the hard work and dedication of our team.”

New Jersey-based Maidenform Brands was founded in 1922 and specializes in women’s intimate apparel and shapewear. North Carolina-based HanesBrands was founded in 1901 and has approximately 51,500 employees in more than 25 countries.

more wholesale Lingerie News >>

Published 08-31-2013 by Katherine Rautenberg

Related Articles

Maidenform Sleepwear Intros 3 Collections
Maidenform: New Bra, More Solution Products
Maidenform Hires Celeb Stylist Micaela Erlanger
Donna Karan Licenses Remain At Maidenform
Maidenform Expands Its ’No Wire’ Collection
Maidenform Expanding ’Comfort Devotion’ Line
Maidenform: Lawsuits Over Hanes Buyout Deal
Maidenform Sales Slide, Loses $1.2 Million in Q1
Profits and Challenges Rise for Maidenform
Maidenform: Comfort, Okay. But Now Sexy?

Comment on this article, brand or product

Disclaimer: The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of Bodymagazine or its staff.

NOTE: Your Email will not be displayed.

Related pictures

Follow BODY on:
twitter FaceBook RSS
Share this article on:
Digg Reddit Stumble

Contact Information: (718)676-4444
Copyright © 2023 Fashion Market Magazine Group, Inc. All rights reserved.
All photos Copyright © 2000-2023 Nick Monjo & Fashion Market Magazine Group. All rights reserved.
Please email any website related issues to
bottom shadow