This comes as no surprise, but it appears that the board of directors at West 49 has rejected Adrenalina’s offer to purchase the company.
West 49 Inc.’s board of directors has unanimously rejected the unsolicited proposal as it does not believe that pursuing Adrenalina’s proposal is in the best interests of West 49 Inc. or its shareholders. The board of directors noted that Adrenalina is an unlisted U.S. public company that has recently indicated that it does not have the financial resources to file its legally required annual report, that has an unproven business model and operates a very small number of highly expensive retail stores in the U.S., and that has recently made a similar and unsuccessful unsolicited attempt to acquire Pacific Sunwear of California, Inc.
Owwwhh, burn.
[Link: Newswire.ca]
who do these dudes at Adrenalina think they are anyway
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