Gildan Activewear acquires Hanesbrands in a $2.2B deal, aiming for $200M annual synergies. Read here for more details on the acquisition rationale.

The deal would nearly double Gildan’s revenue, but there could be antitrust hurdles because both companies sell underwear, hosiery and shirts.

Gildan Activewear is buying HanesBrands for $2.2 billion in a deal that gives the basic apparel maker access to household name brands like Hanes and Maidenform. The companies put the transaction’s valued at about $4.