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Curaleaf Holdings has obtained the necessary competition clearances for its ongoing hostile takeover bid for Aurora Cannabis.
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TD Cowen analyst Derek Lessard has advised Aurora Cannabis shareholders to accept Organigram Global's $561-million acquisition offer, citing greater certainty and potential upside compared to a competing hostile bid from Curaleaf.
Organigram agreed to acquire Aurora Cannabis at a 21% premium over Curaleaf's hostile takeover offer. However, the article argues that Curaleaf emerges as the real winner because the combined Organigram-Aurora entity will be more entrenched in the declining Canadian recreational cannabis market. Curaleaf, with stronger financials and U.S. operations, may eventually acquire the combined company at a lower valuation if the deal underperforms.
Curaleaf has issued a statement maintaining its hostile takeover offer for Aurora Cannabis and criticizing the Aurora board's refusal to engage with the proposal.
Aurora Cannabis Inc. announced its financial results for the second quarter of fiscal 2027, reporting C$86.0 million in net revenue and C$14.0 million in adjusted EBITDA.