Maidenform to Be Acquired by HanesBrands for $23.50/Share in Cash

Maidenform, Inc.

today announced that it has entered into a definitive agreement with HanesBrands

pursuant to which Hanes will acquire all of the outstanding shares of Maidenform for $23.50 per share in cash, representing a transaction value of approximately $575 million. The transaction price represents a premium of approximately 23% to yesterday's closing share price and a premium of approximately 30% to the 30-day average trading price. The transaction, which has been unanimously approved by the Maidenform Board of Directors, is expected to close in the fourth quarter of 2013. By combining with Hanes, Maidenform will become part of a larger, more diverse apparel company with strong cash flows and a portfolio of iconic