Curaleaf challenges Aurora’s rejection of enhanced takeover offer
ACB•Curaleaf challenged Aurora Cannabis’ rejection of its enhanced acquisition offer, which values Aurora shares at $5 each, an 86% premium to the unaffected 30-day volume-weighted average share price, according to Curaleaf.
1. Offer and due diligence
Curaleaf disputed Aurora’s board recommendation against its offer and said Aurora had denied it due diligence access while sharing confidential information with other potential buyers. Curaleaf said it remained ready to engage in due diligence and argued discussions could address Aurora’s concerns about offer conditions and synergy estimates.
