RE:Xanthic.....has a cap of 600 000 USDIt’s a reverse takeover and it used to happen all the time during the corporate raider days. It happens when a smaller company’s management team identifies another company with undervalued assets and believes it can do a better job than the existing management team of the larger company. APHA shareholders will own the majority of the newco so yes, it is a serious offer, and no, APHA shareholders will not necessarily vote it down.
I think ink someone else will come in and make a better offer though, or it will force Aphria to make a partnership with a larger company/equity investment from one. That would fend off the takeover.