Consumer
Fired CEO, Rebel Investor and M&A Talks Fuel Battle Over Gildan’s Future
- The $6 billion clothing maker has opened door to takeover bids
- Former CEO was looking into deals worth more than $3 billion
Gildan apparel at a store in Montreal, Quebec, Canada.
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
Suitors for Gildan Activewear Inc. have six more days to put together their offers for the clothing maker, as a pitched battle over its future rages.
The Canadian firm has told bidders it wants to see their initial proposals by April 10, according to a person familiar with the matter. But there’s a catch: Some of its biggest shareholders are dead-set against selling the business right now.