Should be a good outcome Globe says Aurora Cannabis, CanniMed extend talks
2018-01-23 06:45 ET - In the News
See In the News (C-ACB) Aurora Cannabis Inc
The Globe and Mail reports in its Tuesday, Jan. 23, edition that Aurora Cannabis and CanniMed Therapeutics have extended talks over what could be Canada's biggest marijuana-industry takeover deal. The Globe's Christina Pellegrini and Jeffrey Jones write that the marathon discussions, which began last week, involve a sweetened offer for CanniMed from Aurora, which had previously sought to acquire the medical-cannabis grower in a hostile, all-share bid. Unnamed sources say Aurora is proposing a bid that is well above its previous $24-a-share offer that CanniMed had rejected. It could also include a cash component, rather than just a share swap. Sources say the new proposal could be worth about $1-billion. However, no final terms had been reached by late Monday, prompting CanniMed and Aurora to extend their talks beyond a deadline of 5 p.m. ET. "There is no certainty that any such discussion will result in an agreement among the parties in respect of a transaction," CanniMed said in a statement. The outcome could leave a smaller cannabis producer without a deal. The talks have proceeded on two tracks: one that includes Aurora also buying Newstrike Resources and one that does not, sources say.
Read more at https://www.stockhouse.com/companies/bullboard/v.acb/aurora-cannabis-inc?postid=27413988#XXmpz91v7gGmdi27.99