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PacSun Rejects Second Bid by Adrenalina

BY CSA STAFF

Anaheim, Calif. Pacific Sunwear of California Inc. has rejected a second buyout proposal from Miami’s Adrenalina.

The bid, made Wednesday, was for $5 a share, which valued the company at about $329 million.

Adrenalina previously made an unsolicited bid for PacSun on Oct. 20. PacSun rejected the bid the next day. That bid was for $4.50 a share, or about $293 million.

In a statement rejecting the bid, PacSun said, “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.”

According to a Reuters report, Adrenalina is considering going hostile with the bid, appealing directly to PacSun shareholders.

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RadioShack launches electronics trade-in program

BY CSA STAFF

FORT WORTH, Texas RadioShack has launched an online electronics trade-in program that allows customers to exchange certain used portable electronics for a RadioShack Gift Card through http://www.RadioShack.com.

Customers who accept the trade-in value for their used product will be mailed a RadioShack Gift Card that can be used toward the purchase of new products in RadioShack stores nationwide or at RadioShack.com. Acceptable items for the RadioShack Online Trade-In Program include GPS devices, MP3 Players, wireless phones, digital camcorders, car audio head units, digital cameras, notebook computers, game media and game consoles.

“We are excited to offer our online customers an environmentally friendly solution by helping them trade-in their used portable electronics while at the same time helping them save on their next RadioShack purchase,” said Peter Whitsett, RadioShack’s evp of merchandising. “We know that consumers are looking for innovative ways to save money, and we think this program will help them stretch their dollars in time for the holiday shopping season at their neighborhood RadioShack.”

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Pacific Sunwear rejects Adrenalina proposal

BY CSA STAFF

ANAHEIM, Calif. Pacific Sunwear of California announced that its board of directors has decided to reject Adrenalina’s revised proposal to purchase all of the issued and outstanding shares of common stock of Pacific Sunwear.

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.

Adrenalina, a retail-entertainment company currently operates three stores in Florida.

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