March 19 (Reuters) - Canadian company Gildan

Activewear's ( GIL ) said on Tuesday the board has

decided to put the clothing maker 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%

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 Committee determined that it was consistent

with its fiduciary duties and in the best interests of Gildan to

contact other potential bidders with a view to maximizing the

value of any potential transaction," a company spokesperson told

Reuters.

The company has been embroiled in a battle between its top

stockholders, such as investment firm Browning West, and the

board, which fired co-founder and CEO Glenn Chamandy in

December.

In late January, Gildan said it would hold an annual and

special shareholder meeting on May 28 amid the ongoing dispute

to replace a majority of its board members and reinstate Glen

Chamandy as CEO.

The company had then said its board constituted a special

committee to look into the request for a special meeting by

Browning West and agreed with the committee's recommendation to

set up the meeting.

The Canadian apparel maker had a market capitalisation of

C$7.72 billion ($5.69 billion), as of last close.

($1 = 1.3565 Canadian dollars)