Paul Bilzerian offered $171 million for Pay ‘N Pak.

The Florida investor said he offered to buy all the Pay ‘N Pak Stores Inc. stock he does not already own for $19 a share in cash. Bilzerian already has 9.9% of the slightly more than 10 million shares outstanding. Kent, Wash.-based Pay ‘N Pak operates cash-and-carry retail stores that sell home-improvement products. In a filing with the Securities and Exchange Commission, Bilzerian said he made the proposal in a letter to Pay ‘N Pak’s chairman.