Curaleaf intends to revise hostile takeover bid for Aurora Cannabis

Curaleaf Holdings has announced its intention to revise its hostile takeover bid for Aurora Cannabis. The proposed improved offer aims for an implied consideration of US$5.00 per Aurora share, consisting of 0.4013 subordinate voting shares of Curaleaf and US$1.00 in cash per share.

Aurora Cannabis CEO Miguel Martin stated that the announcement is not yet a formal revised bid, as the company has not received the necessary materials to conduct a full evaluation. Aurora has previously urged shareholders to reject Curaleaf’s initial bid, which was valued at approximately US$4.00 per share, claiming it undervalued the company.

A special committee of independent directors at Aurora will review any formal revised offer once it is received. Aurora shareholders have been advised to take no action and wait for further communication from the Board of Directors. The revised expiry date for the offer is December 4, 2026.