01:57 PM EDT, 07/30/2019 (MT Newswires) -- Hempco Food and Fiber (HEMP.V) was up nearly 3% after the company on Tuesday said Institutional Shareholder Services (ISS) , an influential proxy advisor, recommended shareholders accept Aurora Cannabis' all-share offer for the 48.6% of the company is does not already own.
The company said ISS is backing the bid, even though it value of the offer, 0.0859% of an Aurora share for each Hempco share, has fallen from $1.04 per share to around $0.70.
Shareholders will vote on the offer on August 13.
Hempco shares were last seen up $0.02 to $0.71 on the TSX Venture Exchange after earlier touching a 52-week low of $0.66.
Price: 0.71, Change: +0.02, Percent Change: +2.90
Who's gonna be processing all that hempco hemp?