American Apparel Rejects $300M Takeover Offer

The board of American Apparel Inc. has rejected a $300 million takeover bid from investors who support the return of ousted Chief Executive Dov Charney, according to a person familiar with the matter. The rejection of an offer from Hagan Capital Group and Silver Creek Capital Partners is yet another dramatic turn for the Los Angeles retailer, which filed for bankruptcy in October. The investors, who had previously submitted a $200 million offer in December, could still make another bid for the company.