Adrenalina Makes Bid for PacSun

New York City Pacific Sunwear of California Inc. on Monday received a $4.50-per-share cash and stock bid from Adrenalina, a manufacturer and retailer of extreme sports gear, according to MarketWatch.com. The offer represents a premium of 24% over Pacific Sunwear's closing price of $3.62 on Friday, Oct. 17.

Adrenalina's chief executive Ilia Lekach said the company is making the proposal public after Pacific Sunwear's CEO Sally Frame Kasaks repeatedly declined Adrenalina's prior attempts to enter into discussions.

For past coverage about Adrenalina in Chain Store Age magazine, go to http://www.chainstoreage.com/story.aspx?id=14765&type=print.