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Curaleaf Announces Intention to Launch Take-Over Bid for Aurora Cannabis to Solidify Its Position as the Global Cannabis Industry Leader
Curaleaf says the deal would give Aurora shareholders US$4.00 a share and at least US$40 million in annual cost synergies.
- On Tuesday, Curaleaf Holdings Inc. announced its intention to launch a takeover bid for Aurora Cannabis Inc., seeking to combine the two cannabis operators into a global platform operating across 17 countries.
- Curaleaf CEO Boris Jordan cited failed private negotiations after Aurora's board refused to engage following formal letters of intent sent on June 23 and July 7, prompting the public bid.
- Aurora shareholders would receive US$4.00 per share plus US$0.75 cash, representing a 45% premium over the 30-day Volume Weighted Average Price, with an additional 110% premium excluding balance sheet cash.
- Integration of Aurora's EU-GMP manufacturing capacity would secure Curaleaf's supply chain and support the combined entity's operations across 17 countries while generating at least US$40 million in annual cost synergies.
- Following formal commencement, the offer will remain open for 105 days, potentially providing Aurora shareholders immediate exposure to the U.S. market, which generates roughly $32 billion in annual legal sales.
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Curaleaf Announces Intention to Launch Take-Over Bid for Aurora Cannabis to Solidify its Position as the Global Cannabis Industry Leader
Proposed Offer reflects a 45% premium to Aurora's 30-day VWAP and a 110% premium to Aurora's 30-day VWAP excluding balance sheet cash
·Pennsylvania, United States
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Total News Sources30
Leaning Left11Leaning Right0Center6Last UpdatedBias Distribution65% Left
Bias Distribution
- 65% of the sources lean Left
65% Left
L 65%
C 35%
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