Billionaire Ron Burkle lost out to Lion Capital over a proposed refinancing of American Apparel Inc., the New York Post reported, citing sources close to the talks.
The deal could still get done by the end of this month despite carrying a higher interest rate as the company's chief executive Dov Charney is aggressively lobbying for it, the newspaper said.
"Lion knows that Burkle isn't going to be a passive debt holder like BofA—he's an aggressive investor who is ultimately looking for control," the NY Post quoted a source briefed on the talks as saying.
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