Mergers & Acquisitions ·
Organigram agrees to acquire Aurora for C$7.80 per share in C$561M deal
OGIOrganigram Global Inc.
Organigram Global Inc. has entered into an arrangement agreement to acquire all outstanding shares of Aurora Cannabis Inc. at a price of C$7.80 per share, valuing the target at approximately C$561 million on a fully diluted basis. The consideration offers Aurora shareholders the option to receive cash, Organigram common shares (5.8626 per Aurora share), or a combination thereof, subject to proration limits. This offer represents a 93% premium to Aurora’s unaffected share price and supersedes a previously rejected hostile bid from Curaleaf. The transaction is supported by both boards and includes a concurrent C$187.5 million private placement of Organigram shares to strategic shareholder British American Tobacco (BAT). Financing also involves amended senior secured credit facilities with ATB Financial totaling up to $210 million. Expected to close in January 2027 pending regulatory, court, and shareholder approvals, the merger aims to create a global cannabis leader with over C$50 million in identified synergies. Organigram is a Canadian-headquartered company focused on producing high-quality cannabis for adult consumers and expanding its global footprint through brands like Edison and SHRED.