RE:Aurora Cannabis Launches Takeover BidThe offer has gotten worse than last week. Can you spot the difference?
Aurora Cannabis Launches Takeover Bid For CanniMed
(RTTNews.com) - Aurora Cannabis Inc. (ACB.TO) said that it has formally commenced its offer to purchase all of the issued and outstanding common shares of CanniMed Therapeutics Inc. (CMED.TO) for consideration consisting of common shares of Aurora.
The price being offered by Aurora for each CanniMed Share, which would currently be equivalent to the Cap Price of C$24.00 payable in Aurora Shares given Aurora's closing share price of C$6.42 on November 22, 2017, represents a compelling premium of 56.9% over the closing price of CanniMed Shares on November 14, 2017.
The Offer will provide holders of CanniMed Shares with 4.52586207 Aurora Shares for each CanniMed Share, subject to a maximum of $24.00 in Aurora Shares. If, on the earlier of the expiry time of the Offer and the date on which all conditions to the Offer have been satisfied, the 20-day volume weighted average price of Aurora Shares traded on the TSX is greater than $5.30 per Aurora Share, the number of Aurora Shares that a holder of CanniMed Shares will receive will be calculated by dividing the Cap Price of $24.00 by the Calculation Date VWAP.
https://m.nasdaq.com/article/aurora-cannabis-launches-takeover-bid-for-cannimed-20171124-00215