Gildan fight with Browning West nets bankers and lawyers millions [Financial Post (Toronto, Ontario, Canada)]
Gildan Activewear, Inc. Class A Sub. Vot. (GIL)
Last gildan activewear, inc. class a sub. vot. earnings: 4/29 04:15 pm
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Gildan Activewear Inc.'s rough battle ahead of a shareholder vote against activist investor Browning West LP is already paying off for one group of people: its advisers. The apparel-maker spent US$15.4 million in “advisory, legal and other expenses” partly relating to “the ongoing proxy contest and shareholder matters” in the first quarter, Gildan said in its earnings statement for the first quarter. The firm also recorded $2.5 million in costs tied to its potential sale process initiated in March. Article content Article content Such costs cut into earnings of the Montreal-based T-shirt maker, which owns the American Apparel brand and supplies Walmart Inc. and Nike Inc. Gildan earlier Wednesday reported operating income of $105.1 million for the first quarter, down 18 per cent from the same period a year ago. Gildan earned 59 cents a share on an adjusted basis, higher than the 52
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News
- Browning West Announces the Dismissal of All Frivolous Lawsuits Brought by Gildan Activewear’s Board Ahead of Upcoming Annual MeetingBusiness Wire
- Gildan Activewear is on watch as the proxy fight heats up [Seeking Alpha]Seeking Alpha
- Gildan Activewear Board of Directors Issues Letter to Shareholders [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Gildan Activewear Board of Directors Issues Letter to Shareholders [Yahoo! Finance]Yahoo! Finance
- Gildan Activewear Board of Directors Issues Letter to ShareholdersGlobeNewswire
GIL
Earnings
- 5/1/24 - Beat
GIL
Sec Filings
- 5/15/24 - Form 6-K
- 5/13/24 - Form 6-K
- 5/9/24 - Form 6-K
- GIL's page on the SEC website