RE:RE:RE:RE:Solid as it gets here is ACB land CanniMed shareholders will conclude the casting of their votes on the proposed takeover of Newstrike on Friday, January 19, 2018 by 10:00 am (EST), while management at CanniMed recently announced their intent to file a civil lawsuit against Aurora, several institutional investors, and two directors who worked with Aurora in formulating its hostile bid.
Shareholder vote
Aurora?s continued pursuit of a CanniMed takeover is contingent on the outcome of the critical shareholder vote this week.
If CanniMed shareholders approve the Newstrike takeover, Aurora?s bid for CanniMed will have flopped, and the predator may have to walk away empty handed from a noble attempt to create the second-biggest cannabis company in Canada behind Canopy Growth Corp.
Aurora has so far bought 689,800 CanniMed shares for a total consideration of about $15.89 million over the last few weeks in support of its hostile bid to acquire all outstanding shares of CanniMed in a move that is supported by a significant number of institutional investors, who?d held 38% equity in the target at the time of Aurora?s bid announcement.