Canada’s Gildan Activewear is nearing a deal to acquire U.S.-based underwear maker Hanesbrands in a transaction that could value Hanesbrands at approximately $5 billion, including debt, according to the Financial Times. The talks are reported to be advanced and may be finalized within the week, although no certainty has been confirmed. The potential acquisition has driven Hanesbrands’ stock price up by nearly 43% in pre-market trading, while Gildan’s shares declined by about 6%. The deal represents a notable development in the North American retail and apparel sector.