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Stock impact report

Top Parkland holder ups fight, seeks CEO ouster, board shakeup [BNN Bloomberg (Canada)]

Gildan Activewear, Inc. Class A Sub. Vot. (GIL) 
Last gildan activewear, inc. class a sub. vot. earnings: 4/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: gildancorp.com/investors-landing-page
Company Research Source: BNN Bloomberg
In a letter sent to fellow shareholders reviewed by Bloomberg News, Simpson Oil — which holds a 19.8 per cent stake — blamed Parkland's board and management for a “deeply flawed capital allocation strategy,” amid a “strategy that ignores the company's competitive advantages,” marking a sharp escalation in a dispute that has simmered for more than a year. Parkland didn't immediately reply to requests for comment. “This is a self-interested attempt by Simpson, a minority shareholder, to seize full control of Parkland without paying a control premium,” Parkland said in a statement on Monday, responding to a notice received from Simpson Oil that it was putting forward nine new directors ahead of Parkland's shareholder meeting on May 6. “It is disappointing that Simpson have chosen this adversarial approach, despite Parkland's Board and management's repeated, good faith efforts, to engage constructively and reach a resolution that appropriately recognizes their minority shareholding.” Show less Read more
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