By Mark Vester

It's been reported on the business wires that Everlast Worldwide Inc., the most popular boxing goods maker in the world, is going to be bought by the Hidary Group, a New York based investment firm, for $146 million.

The Hidary Group will pay $26.50 per share in cash, which is a 14.5 percent premium over Thursday's closing price on the stock. The all-cash transaction must still be approved by Everlast's stockholders.

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