Curaleaf offers ACB shareholders 0.3463 shares plus $0.75 cash per share in an unsolicited takeover attempt.
Curaleaf Holdings has initiated a hostile takeover bid for Aurora Cannabis, proposing $4 per share in a mix of stock and cash. The offer includes 0.3463 Curaleaf shares and $0.75 in cash for each Aurora share.
Aurora Cannabis confirmed the unsolicited bid on Wednesday, marking the latest consolidation effort in the struggling cannabis sector. The company has not yet responded to the offer, which follows a period of declining valuations for major cannabis producers.
No immediate market reaction was disclosed, though Aurora shares have faced pressure amid broader industry challenges.