By  on December 16, 2008

Adrenalina rescinded its offer to buy Pacific Sunwear of California Inc. on Monday but said it will continue to seek a merger, leading the larger PacSun to publicly rebuff the upstart extreme sports retailer.

Adrenalina chairman and chief executive officer Ilia Lekach said his company was withdrawing its offer due to the weakening of PacSun’s stock price.

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