Today, Maidenform Brands Inc. announced that its stockholders voted in favor of merger deal with Hanesbrands Inc. This was based on a vote tally from a special meeting of Maidenform's stockholders today.
Under the previously announced merger agreement, Hanesbrands Inc. would acquire all of the outstanding shares of Maidenform common stock. The deal was priced USD23.50 per share piece to be paid in cash without interest. The shareholders of the company had cast around 99.0% votes in favor of the approval and adoption of the merger agreement. This represented around 85.7% of Maidenform's outstanding common stock as of August 23, 2013.
According to Maurice S. Reznik, Chief Executive Officer of Maidenform and Member of the Maidenform Board of Directors, "We are pleased that our stockholders recognize the immediate and substantial value of this compelling transaction. We thank our stockholders for their support and look forward to a bright future ahead as part of Hanesbrands."
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