TSN Hockey: Bella is going to make a lot of money for hockey fans
TSN, the national broadcaster of Canadian sports, has bought Bella, the maker of polyester clothing, for $3.9 billion.
Bella announced the deal Thursday, saying it will pay $3 a share in cash, subject to adjustment for certain pre-tax and post-tax transactions.TSN has previously reported that Bella would generate $2.4 billion in profit in 2019-20, compared to a $1.6 billion loss in 2016-17.
The Canadian company has also raised $2 billion in debt since it announced the sale in September.
Bellacom, a Canadian clothing brand, was acquired by US-based Uniqlo in 2013.