The Globe and Mail ponders what Gildan Activewear is worth in its Saturday, March 23, edition. The Globe's David Berman writes that the answer to Gildan's valuation is potentially lucrative, given that the share price was struggling to rise above $38 in New York last week (all figures U.S.). That is $4 below the price that was floated by observers in a Globe piece the week before. The story broke the news that Gildan had been approached by a potential buyer, following a three-month ordeal that involved the dismissal of the company's chief executive officer, Glenn Chamandy. The reported $42 takeover figure, which would value Gildan at more than $7-billion, also lines up with a recent estimate from an analyst of where the stock should trade. Canaccord's Luke Hannan says, "We believe Gildan's low-cost manufacturing footprint, healthy free cash flow generation profile, and attractive valuation creates a favourable long-term risk/reward profile for its shares." He argues that the stock deserves to trade at a higher valuation. The stock clearly has been struggling through temporary leadership uncertainties that the board created when it dismissed Mr. Chamandy, potentially making it an awkward time to sell.