Deals
Green Growth Brands Plans Hostile Offer for Canada's Aphria
- Hostile approach would value Aphria at almost $2.1 billion
- Aphria nearly halved in two days after short-seller report
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U.S. cannabis retailer Green Growth Brands Ltd. is planning to launch a hostile takeover bid for Aphria Inc. that values the Canadian marijuana producer at almost C$2.8 billion ($2.1 billion).
Columbus, Ohio-based Green Growth plans to offer C$11 per share in an all-stock bid for Aphria, according to a statement Thursday. That’s a 46 percent premium over Aphria’s closing price on Monday.