TORONTO, Oct. 3, 2023 /CNW/ - Neighbourly Pharmacy Inc. ("Neighbourly" or the "Company") (TSX: NBLY), Canada's largest and fastest growing network of independent pharmacies, announced today that, based on the unanimous recommendation of a committee of independent directors (the "TransactionCommittee") of its board of directors (the "Board"), it has entered into a letter of intent with an affiliate of Persistence Capital Partners (collectively, and together with their affiliated funds, "PCP"), in respect of a transaction (the "Proposed Transaction") whereby a newly-formed entity controlled by PCP (the "Purchaser") would acquire all of the common shares (the "Common Shares") in the capital of the Company, other than those Common Shares already owned by PCP or its affiliates, at a purchase price of $20.50 per Share (the "Offer Price"), payable in cash. The Company has granted the Purchaser exclusivity through November 13, 2023 to complete negotiations of definitive agreements between the Company and the Purchaser.
Read more at newswire.caNeighbourly Enters into Letter of Intent to go Private with its Controlling Shareholder Persistence Capital Partners
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