Pacific Sunwear of California (PSUN) Rejects Adrenalina's Unsolicited Revised Proposal
Pacific Sunwear of California (Nasdaq: PSUN) announced that its board of directors has determined that the unsolicited revised proposal received from Adrenalina (OTCBB: AENA), a retail-entertainment company currently operating three stores in Florida, to purchase all of the issued and outstanding shares of common stock of Pacific Sunwear is not in the best interests of the Company's shareholders. The Company's management, with the full support of the board, is committed to executing on their strategic plan to create long-term shareholder value.
Pacific Sunwear is a leading lifestyle specialty retailer rooted in the youth culture and fashion vibe of Southern California.
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