Gildan Activewear (GIL) Comments on Media Reports, Forms Special Committee

Gildan Activewear Inc. (NYSE: GIL) today issued the following statement in response to recent media reports:

“In response to the receipt of a confidential non-binding expression of interest to acquire Gildan, Gildan’s Board formed a Special Committee of independent directors to, among other things, review and consider the merits of the proposal and any alternative transaction, including maintaining the status quo and continuing to execute on Gildan’s existing business plan.

After consulting with its legal and financial advisors and considering the interests of Gildan’s shareholders and other stakeholders, 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. The Special Committee, with the assistance of its financial advisors, conducted targeted outreach to a small number of reputable potential counterparties. Several of these counterparties expressed an interest in considering a potential friendly transaction with Gildan.

There can be no assurance any transaction will result from these discussions, and Gildan will continue to provide updates as appropriate.”

You May Also Be Interested In

• Holcim to acquire Fermacell from James Hardie for EUR 840M
• Saba Capital funds reapprove merger plan targeting Q4 2026 close
• Quantum Cyber rejects short-seller's offer to halt reports if lawsuit dropped