By and  on July 24, 2013

Retail and fashion stocks lost ground on Wall Street today, but investors gave a hearty vote of approval to Hanesbrands Inc.’s $575 million deal to acquire Maidenform Brands Inc.

Maidenform stock shot up 22.3 percent to $23.35 — a stone’s throw from Hanesbrands’ purchase price of $23.50. Shares of Hanesbrands gained 7.9 percent to $57.59, a significant gain since acquirers often see their stock lose ground after announcing an deal, given the risks they are taking on by adding a new business.

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