Adrenalina (AENA) Offers To Acquire Pacific Sunwear (PSUN) for $4.50/Share
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Adrenalina (OTCBB: AENA) submitted a proposal to the Board of Directors of Pacific Sunwear of California (Nasdaq: PSUN) to enter into negotiations that will lead to the acquisition of PacSun for a price of $4.50 per share, consisting of a combination of cash and Adrenalina common stock.
Adrenalina's acquisition proposal represents a premium of 24% above the closing price of PacSun common shares of $3.62 on October 17, 2008.
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