Mergers & Acquisitions ·
Curaleaf Holdings, Inc. announced its intention to launch a take-over bid for Aurora Cannabis Inc., proposing total…
CURLDCuraleaf Holdings, Inc.
Curaleaf Holdings, Inc. announced its intention to launch a take-over bid for Aurora Cannabis Inc., proposing total consideration of US$4.00 per Aurora share, comprised of 0.3463 Curaleaf shares and US$0.75 cash. This offer implies a 45% premium over Aurora's 30-day VWAP of $2.75 and an 110% premium excluding balance sheet cash. The transaction aims to combine Aurora’s EU-GMP cultivation capacity with Curaleaf’s processing and distribution networks, targeting at least US$40 million in annual cost synergies and a pro forma market capitalization approaching US$3.0 billion. Curaleaf cited Aurora's refusal to engage in good-faith discussions as the reason for proceeding directly to shareholders. The offer is conditional upon regulatory approvals and other standard take-over bid conditions, with no assurance that the transaction will close. Curaleaf Holdings operates in the global cannabis industry, providing consumer products across medical and adult-use markets.