Aurora Cannabis Acquires MedReleaf
Aurora Cannabis Inc. (TSX: ACB) announced on May 14th that the company has a binding agreement with MedReleaf Corp (TSX: LEAF) to acquire all outstanding and issued LEAF common shares.
The all-share transaction is estimated to be valued at C$3.2 billion, or approximately $2,488,432,640 USD. All current shareholders of MedReleaf will receive 3.575 shares of Aurora for each MedReleaf share.
The two companies will, together, bring in a total cannabis yield per annum of over 570,000kg (or about 1,256,634lbs). This yield will be made possible by nine cultivation facilities in Canada and two facilities located in Denmark.
In the first 30 minutes of trading on the 14th, the same day the announcement was made, ACB increased in value by 3.24%. However, the increase in value did not last long. After the initial peak in value ACB decreased by 5.43%.
Aurora Cannabis Acquires MedReleaf
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