Canadian marijuana producer Aurora Cannabis is under threat of a hostile takeover from the likes of Curaleaf.
This began with Curaleaf offering Aurora a deal to be bought out, but its leadership declined to even discuss the deal. Now, Curaleaf is going directly to their shareholders with an offer of $4 a share. The shareholders would also get 75 cents per sale.
This would cost Curaleaf $272 million total. Both Curaleaf and Aurora’s stock jumped due to the news.
“Aurora shareholders receive a significant premium and immediate value. Curaleaf shareholders gain a business that is immediately accretive and strategically complementary to what we have built internationally,” says Curaleaf CEO Boris Jordan on X.
This deal would create a behemoth of an international marijuana company. Here’s what MJBizDaily says about the deal:
“Taking over Aurora would add more than 50 tons of annual EU-GMP cultivation and manufacturing capacity, including from its recent acquisition of Safari Flower Co., according to the release.
Curaleaf boasts a distribution network with operations in Germany, the United Kingdom and Poland as well as EU-GMP facilities in Portugal, Spain and Canada.”
Once the offer’s official, Aurora shareholders will have 105 days to accept.
Read the original article at MJBizDaily.
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