Curaleaf looks to buy Aurora Cannabis
Curaleaf Holdings has announced an unsolicited takeover bid for Aurora Cannabis after private negotiations failed. The proposed deal aims to expand Curaleaf's international footprint, though analysts suggest the current offer undervalues Aurora's long-term potential.
Why it matters
This represents a significant consolidation attempt in the global cannabis market, reflecting ongoing efforts to scale operations across international borders.
STAMFORD - Curaleaf Holdings Inc. says it intends to launch a takeover bid for Edmonton-based cannabis company Aurora Cannabis Inc. Curaleaf said in a news release on Tuesday it plans to make an offer to purchase all of Aurora’s issued and outstanding common shares. If successful, the move would create a combined cannabis company with a footprint in 17 countries across Europe, North America and other international markets, it said. The Stamford, Conn.-based company said it is going public with its plan after multiple attempts to negotiate privately with Aurora’s leadership were unsuccessful. It said Aurora’s board refused to engage in discussions after Curaleaf chief executive Boris Jordan sent a formal letter of intent on June 23 outlining the company’s proposal. Curaleaf said it sent a follow-up letter on July 7, but Aurora has been “unwilling to engage in constructive discussions” to date.
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