02:55 PM EDT, 03/19/2024 (MT Newswires) -- Gildan Activewear ( GIL ) has put the company up for sale following a three-month battle for control, The Globe and Mail reported Tuesday, citing sources.

The company has given RBC Capital Markets and Goldman Sachs a mandate to look for additional bidders after receiving a takeover approach from a potential buyer over the past four weeks, the report said.

A Gildan spokesperson told The Globe and Mail that it has formed a special committee to review the proposal and has reached out to other potential parties that may be interested in the business, the report said.

Gildan Activewear ( GIL ) did not immediately respond to a request for comment from MT Newswires.

Trading in Gildan Activewear ( GIL ) shares were halted pending the release of material news.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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