Neighbourly Pharmacy Inc T.NBLY

As Long as the "Formal Valuation" is a minimum $18.50...

[StewartCatso]

(iii) receipt from TD Securities Inc. ("TD"), financial advisor and independent valuator to the committee of independent directors (the "Transaction Committee") formed by the Board of Directors of the Company (the "Board"), of an updated formal valuation of the Common Shares initially orally delivered by TD to the Transaction Committee on October 2, 2023 (the "Formal Valuation"); and (iv) receipt from TD of an updated fairness opinion initially orally delivered by TD to the Transaction Committee on October 2, 2023 (the "Fairness Opinion"), containing a fairness conclusion consistent with the Fairness Opinion.

There is no reason not to take this offer to a Minority Shareholders vote to accept or reject the offer.

[Kanatainvestor]

They may very well take it to a vote since they own enough shares to do so, but I don't see the board endorsing the offer as it stands to day. 

[CarsT1]

considering where shares were trading before the original offer, despite the indigestion on todays news, I see shareholders accepting the new offer. in my world, 18.50 is better than 12.50 GLTA

[StewartCatso]

Assuming a "Formal Evaluation" of $18.50, then the company cannot disallow the Minority Shareholders to vote on it. The lawyers for all parties will have a field day with this puppy... Oppression Remedy The oppression remedy is available under the CBCA and the OBCA and it is one of the most powerful tools that minority shareholders have to protect their rights.

[Kanatainvestor]

PCP doesn't need the board or TD’s fairness opinion to call a special shareholders meeting and put the deal to a vote. (Any shareholder who owns 5% or more of the share can put pretty much anything to a vote). The way, the stock is trading tells me that the market doesn’t believe that PCP can get the majority of the minority of the vote. As such, PCP will either have to up the offer or abandon

[gunner1324]

And where does this end up if they back out , back in the 12`$

[Kanatainvestor]

I don't see this going back to $12s with interest rates where they are (the yield on Canadian 10 sovereigns is down to 3.17% from 4.25% when the first $20.5 offer was made). If you look at PLC, DNTL and the likes they have rallied substantially the last few weeks as investors started pricing a meaningful reduction in interest rates in 2024. If you combine that with the pharmacists shortage