The Globe and Mail reports in its Tuesday edition that the battle for shareholder support at Gildan Activewear is heating up, with an activist fund manager and the clothing manufacturer's ousted co-founder tabling their strategy for boosting the company's performance ahead of next month's annual meeting. The Globe's Andrew Willis writes that Browning West published a 57-page presentation on Monday outlining why investors should support its campaign to replace Gildan's board and reinstate former chief executive officer Glenn Chamandy at the company's annual meeting, scheduled for May 28. Browning West said a combination of operational improvements at Gildan, share buybacks and an improved executive compensation scheme could nearly double the company's stock price to $60 by the end of next year and propel it to $100 within five years (all figures U.S.). In the latest salvo of an increasingly bitter proxy battle, Montreal-based Gildan's board promptly dismissed the plan, which was published as the company entertains takeover offers. The average 12-month target price for Gildan shares among equity research analysts who cover the stock is $40.79. On Monday, Mr. Chamandy said he is "looking forward to returning as CEO."