Curaleaf offers $4 per share in a mix of stock and cash, a 45% premium over Aurora’s 30-day average price.
Curaleaf Holdings formally initiated a hostile takeover bid for Aurora Cannabis, offering $4 per share in stock and cash. The bid includes 0.35 Curaleaf shares and $0.75 in cash per Aurora share, with a potential cap of $5 if Aurora’s stock rises significantly.
The $4 offer represents a 45% premium over Aurora’s 30-day volume-weighted average price before the initial announcement. If the $5 cap is triggered, the premium would increase to nearly 82%. Curaleaf filed the tender offer with the SEC on August 18.
The move follows Curaleaf’s public announcement a week earlier, aiming to expand its market presence by acquiring Aurora. The outcome remains uncertain as the bid progresses.