Adrenalina Continues Push To Buy PacSun Shares

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December 15 2008
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Starting in October 2008, Adrenalina put an offer out to acquire Pacific Sunwear for $4.50 per share. PacSun declined to participate in any such discussions. Now, several months later, Adrenalina continues to push the issue, according several stories published this morning.

Here’s an excerpt from a letter Adrenalina included in a press release the company issued today. The letter is addressed to to PacSun’s Chairman and CEO, Sally Fram Kasaks, and was published today at Marketwatch.com. The letter requested that PacSun’s board of directors meet with Adrenalina representatives to discuss merging the two companies:

“We believe the experience of our management team at Adrenalina working with PacSun will allow us to capitalize on several important business synergies, including a combination of PacSun’s substantial store footprint with our proven entertainment retailing concept, and create a more efficient and competitive company that is better equipped to deliver value in this challenging economic environment.”

Read the entire letter HERE.

4 Comments For This Post

Anonymous Says:
December 15th, 2008 at 1:46 pm

Out of this list, who do you all think will NOT make it through this storm?

Billabong
Globe Intl Ltd
Jarden Cp
Pacific Sunwear
V F Cp
Quiksilver Cp
Zumiez Inc.
Abercrombie & Fit
Orange 21 Inc.
Source Interlink
Volcom, Inc.
Nike Inc Cl B

i wear visors Says:
December 15th, 2008 at 3:56 pm

source interlink

HB Says:
December 15th, 2008 at 5:11 pm

ZQK BUT THEY WILL STILL EXIST UNDER NEW OWNERSHIP.
WHO IS “SOURCE INTERLINK”JUST ADVERTISING, IF SO, THEY’LL BE DONE. MAGS ARE OVER AND OUT–WATER,FOAM,LONGBOARD…..
PACSUN DONE–WILL EXIST UNDER NEW OWNERSHIP AND NAME.
A&F WILL STILL BE AROUND BUT THE HOLLIWHORE DIV. WILL BE TOSSED TO THE CURB.
LOTS OF THE SMALLER UNDER CAPITALIZED CO.S WILL BE RUNNING UP THE WHITE FLAG AFTER THE UPCOMING DISMAL TRADE SHOW SEASON(WRITE THAT DOWN).