Mergers & Acquisitions ·
Aurora Cannabis filed an application with the Alberta Securities Commission to compel Curaleaf Holdings to remedy…
ACBAurora Cannabis Inc
Aurora Cannabis filed an application with the Alberta Securities Commission to compel Curaleaf Holdings to remedy deficiencies in its hostile bid circular, specifically regarding missing pro forma financials and failure to publish a French-language notice. Aurora's Board unanimously recommends shareholders reject the bid by taking no action and not tendering shares. The filing notes that Curaleaf's non-compliance with the 105-day deposit period means the bid does not qualify as a 'permitted bid,' potentially triggering Aurora’s Shareholder Rights Plan if Curaleaf acquires more than 20% of shares. This legal action aims to protect shareholder rights and ensure adequate time for evaluation. Aurora Cannabis is a global leader in medical cannabis, manufacturing and distributing products across Canada, Europe, Australia, and New Zealand.