Q: Why is Neighbourly Pharmacy trading down at such a large discount to the offer to take it private at $20.50. It seems undervalued even without the offer. Would it be a buy at todays price. Thanks for your great service.
5i Research Answer:
Please see this answer from yesterday. We think it is buyable as an arbitrage play. But if the offer fails it will still likely decline another $2 to $3/share in the short term.