The Montreal-based clothing manufacturer received a takeover offer in recent weeks, The Globe and Mail reported, and has tapped RBC Capital Markets and Goldman Sachs to seek other possible buyers. Gildan shares were halted Tuesday afternoon “pending news.” (The Logic, The Globe and Mail)
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The Montreal-based clothing manufacturer received a takeover offer in recent weeks, The Globe and Mail reported, and has tapped RBC Capital Markets and Goldman Sachs to seek other possible buyers. Gildan shares were halted Tuesday afternoon “pending news.” (The Logic, The Globe and Mail)
Talking point: Gildan did not immediately respond to The Logic’s request for comment. The company’s market capitalization is US$5.7 billion and one source told The Globe a buyer would need to spend more than US$7 billion to acquire Gildan. The company has been in the midst of a leadership battle. Its board removed co-founder and CEO Glenn Chamandy in December, replacing him with Vince Tyra, a former Fruit of the Loom executive. Institutional shareholders owning more than a third of Gildan’s stock have been pushing to reinstate Chamandy and replace some board members. A vote will take place at the company’s May 28 annual general meeting.
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