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American Apparel offer

Shares in US retailer American Apparel rose yesterday after it revealed it was looking at a proposed takeover offer.

THe struggling company, which fired controversial chief executive Dov Charney last week, also announced the appointment of a new head of the board, sending its shares up in early trade.

American Apparel fired Charney last week, ending a tenure marked by sexual harassment allegations which were never proven or won.

Longtime retail executive Paula Schneider was named as his replacement.