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Article: The Baltimore Sun Jay Hancock column.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 21, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Jay Hancock, The Baltimore Sun Knight Ridder/Tribune Business News
Nov. 21--There is money to be made if Omnicare Inc. succeeds in its drawn-out takeover raid of Baltimore's NeighborCare Inc.
NeighborCare stock closed Friday at $28.10. Omnicare is offering $30. That's a potential 7 percent return, putting the deal near the top of Bloomberg's list of theoretical "arbitrage" profits from pending mergers. Or more than 7 percent if Omnicare sweetens the package.
But will the deal ever get done?
"That's a good question, isn't it?" says Frank G. Morgan, who follows both companies' stocks for Jefferies & Co.
He doesn't know ...