Aurora Cannabis Urged Shareholders To Reject A Merger Bid From Curaleaf, Warning That The Hostile Bid Would Put Aurora Shareholders' Value And Future Upside At Risk
Benzinga Newsdesk 2 months ago
M&A
Curaleaf's hostile and opportunistic bid significantly undervalues Aurora, and aims to capture Aurora's assets at a discountAurora is debt free and holds $149 million in cash1, Curaleaf carries over $1 billion
- Curaleaf's hostile and opportunistic bid significantly undervalues Aurora, and aims to capture Aurora's assets at a discount
- Aurora is debt free and holds $149 million in cash1, Curaleaf carries over $1 billion in debt2, Aurora shareholders' own cash should not be used to help fix Curaleaf's balance sheet
- The hostile bid exposes Aurora shareholders to significant risks not fairly disclosed and could meaningfully weaken shareholder rights
- Aurora's transformation into a global, high-margin medical cannabis leader is delivering results, and the Board believes significant value creation lies ahead
- Aurora Files Directors' Circular Unanimously Recommending Shareholders REJECT Curaleaf's Hostile Bid by TAKING NO ACTION and NOT TENDERING their shares