Curaleaf accuses Aurora Cannabis of blocking takeover bid

Curaleaf Holdings is challenging the board of Aurora Cannabis following the rejection of an enhanced takeover proposal. Curaleaf has offered $5 per share, which it claims represents an 86% premium over Aurora’s unaffected share price.

Curaleaf Chairman and CEO Boris Jordan has accused Aurora’s board of failing its fiduciary duty by denying Curaleaf access to due diligence while granting similar access to unnamed third parties. Curaleaf maintains it is the only bidder with a binding offer and real capital on the table.

Aurora’s leadership has urged shareholders to reject the hostile bid, stating that the offer undervalues the company’s debt-free position and strong cash reserves. Aurora has indicated it is evaluating other strategic alternatives and is reportedly in discussions with Organigram, a cannabis company backed in part by British American Tobacco. Curaleaf’s offer remains open until December 4, 2026.