Not a loaded question. I’m posting because I genuinely don’t know the answer, because I don’t understand all the factors at play. I’m going to avoid using the company’s name. Note that I have don’t have any skin in the game. Here’s my question(s):

Why is $COMPANY currently trading at ~$47.04 a share at the time of me writing this?

If someone with the means and backing to do so made an offer to buy $COMPANY outright and take it private at $54.20 a share, shouldn’t it be trading at or above that number?

Would it be incorrect to assume that if the offer to purchase $COMPANY and take it private was turned down by the board of directors, it’s because that number is too low?

Would $COMPANY be considered a discount at its current price in the scenario described above?