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American Apparel is considering a buyout

American Apparel Inc. shares jumped 7 percent Monday after the company announced it was considering a buyout offer.

The Associated Press reports that the buyout offer was between $1.30 and $1.40 per share. The company didn't reveal the buyer's name.

The news comes after American Apparel officially fired its founder, Dov Charney, last week over alleged misconduct.