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American Apparel Said to Reject Latest Charney-Led Takeover Bid

2016-01-15 03:15:31| Apparel - Topix.net

American Apparel Inc.'s board of directors rejected the latest takeover offer involving the company founder and fired Chief Executive Officer Dov Charney, two people familiar with the decision said. The vote means an offer valued at $300 million from three investment funds who've aligned with Charney must be further sweetened to win over the company, or they must convince a judge next week to throw out a competing proposal backed by American Apparel's lenders.

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