Gildan Announces Intent to Acquire American Apparel Brand; Shares Only a Touch Undervalued
No-moat Gildan announced its proposed cash acquisition of American Apparel Brand’s worldwide intellectual property rights, certain assets including some manufacturing distribution and warehouse operations, and inventory for $66 million. This seems like a reasonable offer given that American Apparel listed assets and liabilities in the range of $100 million to $500 million in a court filing. The company’s retail store assets will not be included in this agreement. We believe Gildan has a record o...Gildan Activewear is engaged in the manufacturing and selling of activewear, socks and underwear. Co. sells activewear products to screenprint markets in North America, Europe and other international markets. Co. is the supplier of activewear for the screenprint channel in the United States, Canada, Europe and Mexico. Co. sells socks and underwear, in addition to its activewear products, to mass market and regional retailers in North America.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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