Under the letter of intent,
Shares in Neighbourly, which owns a network of community pharmacies across
The company says the offer, which will require shareholder approval, also represents a premium of about 21 per cent to the company's
PCP already owns about 22.4 million Neighbourly shares or a 50.2 per cent stake in the company.
PCP managing partner
"We are confident that this proposed transaction will benefit Neighbourly's customers, patients, employees, and partners, as well as provide a fair and attractive return to its public shareholders," Elman said in a statement.
This report by The Canadian Press was first published
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