GB Group Ord Shs GBGPF

RE:RE:RE:Aurora Cannabis Launches Takeover Bid

[BobTBuilder]

Gladiator3 wrote: If I understand this correctly HIP deal is still in play.   Right or wrong?  

The Offer will be remain open for acceptance until 11:59 p.m. (Pacific time) on March 9, 2018. Subject to applicable securities laws, the deposit period may be extended, or in certain circumstances reduced, by Aurora. In light of CanniMed's proposed alternative transaction with Newstrike Resources Ltd. (the "Newstrike Resources Alternative Transaction"), Aurora has applied to the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securities Commission to obtain an order reducing the minimum deposit period for the Offer in order to allow CanniMed's shareholders to consider the Offer concurrently with the Newstrike Resources Alternative Transaction. CanniMed shareholders are advised, however, that there is no assurance such relief will be obtained

The minimum deposit period is 105 days, hence the March 9, 2018 date. It means that CMED shareholders have that long to respond to Aurora's takeover bid. 

Aurora is requesting this 105 day period be reduced so that CMED shareholders can consider both the HIP deal and the ACB deal at the same time.

Based on what I posted earlier, it very much appears to me that Aurora is not in favour of the HIP deal. In fact, the news release specifically states that this takeover offer is conditional on the HIP deal not proceeding.

"(ii) the proposed acquisition of Newstrike Resources Inc. announced by CanniMed in its new release of November 17, 2017 shall not have proceeded, and shall have been terminated;"

The news release is very clear on this.