Deals
Cannabis Grower Aurora Proposes Industry's Largest Takeover
- Canadian grower in $455 million bid for CanniMed Therapeutics
- Both companies target marijuana sales in the medical market
Photographer: James MacDonald/Bloomberg
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Aurora Cannabis Inc. proposed the largest takeover bid in Canada’s nascent marijuana market in an attempt to expand its reach into Europe.
Aurora said late Tuesday it offered to acquire CanniMed Therapeutics Inc. in an all-stock, C$582 million ($455 million) deal that values the Saskatoon, Saskatchewan-based company at C$24 a share, 57 percent above its closing price on Tuesday.