Aurora Cannabis proceeding in takeover bid for CanniMed

Aurora Cannabis announced in November its intention to take over CanniMed Therapeutics (TSX:CMED, adding a request that CanniMed respond to the terms by end of that week. When CanniMed failed to do so, Aurora announced it is proceeding with its all-stock takeover bid. Aurora has also added an ultimatum: CanniMed must not complete the transaction for Newstrike (TSXV:HIP), a cannabis company developing consumer-friendly brands.

On Nov. 24 Aurora released a statement signaling its decision to go ahead with the takeover, and set conditions for the deal to go through. Aurora says the largest shareholders of CanniMed support the takeover offer.

The price offered by Aurora, which would currently be $24.00 payable in Aurora shares, represents a 57% premium over the closing price of CanniMed Shares on November 14, 2017, the last day before Aurora’s announcement.

CanniMed announced the creation of a committee designated to review the offer. Aurora’s executive VP, Cam Battley, told BNN that CanniMed not responding promptly to their bid was “astonishing” but that its offer will be on the table until March of 2018.

CanniMed asked shareholders to not overreact until it evaluated the offer. Since the proposal by Aurora was made public Nov. 14, CanniMed’s stock has increased 39.9%.

Source: Aurora

Aurora Cannabis proceeding in takeover bid for CanniMed

About Cannin.com: Your Marijuana Stocks Resource

Cannin is your #1 resource for marijuana stocks. Our global team of experts evaluates all emerging marijuana stock investing opportunities. We aggregate hundreds of hours of research and provide tips on the best marijuana stock investments for 2020.

Use Cannin as your resource for:

Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.

Many market analysts expect the legal marijuana industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in marijuana stocks is now.

Are you interested in marijuana stocks like Curaleaf, Trulieve, Aurora Cannabis, or Charlotte’s Web,?

Are you looking to buy stock in marijuana companies for 2020? Interested in emerging penny marijuana stocks? Looking for the best Canadian marijuana stocks to invest in? We can help.

Predict price movements of marijuana stocks several hours in advance with our proprietary algorithmic stock trading software.

+25% Gains in 2020
+49.8% Gains in 2019
108% Backtested since 2012

We’re so confident you’ll love our algotrading marijuana stock signals, we’re willing to give you a one-month risk-free trial to see it for yourself.

Profit from the best marijuana stocks – we’ll show you how at cannin.com.

Marijuana Stocks, Pot Stocks, Algorithmic Stock Trading, Investing in Hemp Stocks

Aurora Cannabis proceeding in takeover bid for CanniMed