text: Pay N Pak Stores which previously announced plans to explore all alternatives for maximizing shareholder values said it intends to consider investor Paul Bilzerians offer for the company in due course as part of that process. Pay N Pak has already retained Salomon Brothers Inc to assist it in exploring its alternatives. Retail analysts have stated that Pay N Paks alternatives could include downsizing its operations a leveraged buyout or a combination with a friendly merger partner. Bilzerian in a filing with the Securities and Exchange Commission said he is offering to buy all of the Pay N Pak stock he does not already own for 19 dlrs per share. The Florida investor currently controls 9.9 pct of Pay N Paks stock. Reuter
target: PAY'N PAK <PNP> TO CONSIDER BILZERIAN OFFER