Aurora Cannabis urges shareholders to reject Curaleaf takeover bid
ACB•Aurora's standalone case
Aurora framed its standalone strategy as higher value, highlighting its EU-GMP medical cannabis scale and record international revenue momentum.
Valuation and balance-sheet concerns
Aurora argued the offer undervalues the business and is aimed at its cash position, citing $149 million in cash and no debt.
The company said Curaleaf carries more than $1 billion in debt, raising concerns about balance-sheet risk shifting to Aurora holders.
Aurora estimated its shareholders would own about 7.7% of the combined company while holding about 3.2% of the votes.
Aurora rejects Curaleaf's unsolicited bid
Aurora Cannabis urged shareholders to reject Curaleaf's unsolicited takeover bid, saying the offer undervalues the company and is supported by a board-led review and public pushback.
Aurora said Curaleaf launched an unsolicited take-over bid for Aurora Cannabis, prompting the review and its response.
