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Curaleaf Sweetens Aurora Cannabis Takeover Offer
Curaleaf says the revised mix of stock and cash is meant to show good-faith negotiations after Aurora rejected its earlier $4-a-share offer.
- On Monday, Stamford, Conn.-based Curaleaf Holdings Inc. announced an enhanced acquisition offer for rival pot firm Aurora Cannabis Inc., valuing the new bid at US$5 per Aurora share.
- Over the summer, Curaleaf made an initial hostile takeover bid worth US$4 per Aurora share, which included 0.3463 of a Curaleaf subordinate voting share plus 75 cents US in cash.
- The improved offer consists of 0.4013 Curaleaf shares plus US$1 cash, based on the closing share price from Friday, October 2, demonstrating good faith in negotiations.
- Aurora Cannabis Inc. previously urged shareholders to reject the initial bid, claiming the offer undervalued the company and was not in shareholders' best interests.
- Curaleaf officials stated the enhanced bid signals commitment to negotiating in good faith and aims to demonstrate the value of combining the two cannabis businesses.
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32 Articles
32 Articles
U.S.-based Curaleaf boosts takeover bid for Alberta's Aurora Cannabis
Curaleaf Holdings Inc. says it will sweeten its offer to buy rival pot firm Aurora Cannabis Inc. Curaleaf now wants to make an offer valued at $5 US per Aurora share, up from $4 US earlier this summer.
·Ottawa, Canada
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Total News Sources32
Leaning Left8Leaning Right2Center10Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 40%
C 50%
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