American Apparel recently received a bid from private equity firm Irving Place Capital to the tune of $1.40 a share, which would value the clothing retailer at about $244 million. However, American Apparel could also be an acquisition target for cash-rich retailers like Target or Macy's. Although the cultures would not fit at first, the executives of either big retailer could provide the discipline necessary for American Apparel to reach its potential as a global brand. Having American Apparel under their wing could help the declining same store sales both retailers have been facing. And the 245 retail stores American Apparel currently operates both domestically and overseas could counteract both Macy's and Target's store closures in the U.S. Whalen MacHale reports for TheStreet from New York.