NEW YORK — Two of the world’s top bra makers are coming together in the biggest development in the $11.5 billion underwear industry in years.
Hanesbrands, which makes the Wonderbra, said Tuesday that it agreed to buy bra and underwear company Maidenform Brands Inc. for about $547 million. The deal would add brands such as Maidenform, Flexees and Self Expressions to the Hanesbrand roster that includes Playtex, Bali, Champion, Wonderbra and its namesake Hanes.
The merger comes as traditional bra and underwear makers are facing tough competition from specialty stores such as Victoria’s Secret that focus on frilly designs and newer rivals such as Spanx that make shapewear that promises to control and smooth out bulges.
Dell founder’s group boosts offer to buy
NEW YORK — A group led by Dell’s founder raised its offer for the struggling computer maker Wednesday in hopes of attracting more shareholder support for its plan to take the company private.
The 10-cent per share increase came just hours before Dell’s shareholders were scheduled to vote on the previous $13.65 per share offer from Michael Dell and investment firm Silver Lake Partners.
But the extra money comes with a catch, a stipulation that the offer’s fate be decided by the will of the shareholders who choose to vote in favor of the plan or against it, leaving out those who don’t vote at all. Previously, non-voting shareholders were counted as opponents of the proposal.
The Round Rock, Texas, company delayed its shareholder meeting for the second time in two weeks, moving it to Aug. 2 to give the special committee of its board time to consider the offer.
– Associated Press