Maidenform Brands, Inc. announced that based on a vote tally from the special meeting of stockholders held, Maidenform stockholders have voted to approve and adopt the previously announced merger agreement under which Hanesbrands Inc. will acquire all of the outstanding shares of Maidenform common stock for $23.50 per share in cash, without interest.
Approximately 99.0 percent of the votes cast at the special meeting were in favor of the approval and adoption of the merger agreement, representing approximately 85.7 percent of Maidenform’s outstanding common stock as of August 23, 2013, the record date for the special meeting.
Maurice S. Reznik, Chief Executive Officer of Maidenform and Member of the Maidenform Board of Directors, said, “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.”
Subject to satisfaction or waiver of the remaining customary closing conditions in the merger agreement, the transaction is expected to close on October 7, 2013, at which time Maidenform will cease to be traded on the NYSE.