On April 3, 2024, The board of Gildan Activewear Inc. announced that they are pushing potential buyers to make their initial takeover offers by April 10, 2024 as the Company attempts to find alternatives to an activist investor campaign aimed at replacing its directors. The report noted that the Company's board put the Company up for sale in February after receiving an unsolicited takeover approach. It also noted the expression of interest came after the Company's board dismissed co-founder and chief executive officer Glenn Chamandy in December, kicking off a campaign led by Browning West to replace the board and reinstate Glenn Chamandy.

The report also noted that the Company's board has been in a war of words with Browning West and several other institutional investors since December, with some fund managers arguing the Company's shares are undervalued and the directors' decision to put the Company up for sale is driven by fears of losing the proxy vote at the annual meeting.