Canadian clothing maker Gildan Activewear said on Tuesday that its board has decided to put the company up for sale following a review by a special committee.
Gildan’s listings on the New York and Toronto stock exchanges were halted. Its U.S.-listed stock was last up 10 per cent before the trading halt.
The Globe and Mail had earlier reported on the news. Over the past four weeks, Gildan had received a takeover approach from a potential buyer and the company mandated investment banks RBC Capital Markets and Goldman Sachs Group to look for additional bidders, the report added, citing two sources familiar with the matter.
“The special
