AcquisitionsAug 12, 2026, 11:07 AM
Curaleaf to Bid for Aurora Cannabis at US$4.00/Share, 45% Premium
AI Summary
Curaleaf Holdings, Inc. announced its intention to launch a take-over bid for Aurora Cannabis, offering US$4.00 per share, comprising 0.3463 Curaleaf Shares and US$0.75 cash. This represents a 45% premium over Aurora's 30-day VWAP and 110% excluding cash. Curaleaf aims to create the leading global cannabis platform with over US$1.5 billion in LTM revenue and expects US$40 million in annual cost synergies, despite Aurora's refusal to engage in prior discussions.
Key Highlights
- Curaleaf intends to launch a take-over bid for Aurora Cannabis.
- Offer consideration: 0.3463 Curaleaf Shares plus US$0.75 cash per Aurora Share.
- Total implied consideration: US$4.00 per Aurora Share.
- Offer represents a 45% premium over Aurora's 30-day VWAP.
- Offer represents a 110% premium over Aurora's 30-day VWAP excluding balance sheet cash.
- Combined company pro forma market capitalization approaching US$3.0 billion.
- Combined LTM revenue of over US$1.5 billion and LTM Adjusted EBITDA of nearly US$350 million.
- Curaleaf expects to generate at least US$40 million in annual cost synergies.
Price Impact
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