Gildan Activewear has told potential bidders that it wants their initial proposals by April 10, Mathieu Dion of Bloomberg reports, citing a person familiar with the matter. However, some of Gildan’s biggest shareholders are dead-set against selling the business right now, according to Dion. Near the end of October, at a board meeting in Barbados, the company’s former CEO Glenn Chamandy walked directors through a series of options for Gildan’s future: One was to keep trying to grow on its own, adding market share, a second involved the purchase of Hanesbrands HBI), according to documents seen by Bloomberg, and a third option was an acquisition of two major apparel distributors valued at more than $3B in total, the documents show, reports Dion.
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