Organigram to Acquire Aurora at C$7.80/Share, Topping Curaleaf's Hostile Bid
ACB sits 65% above its 52-week low of $2.56.
Summary
Aurora agreed to be acquired by Organigram for C$7.80 per share (about C$561 million fully diluted), a 93% premium to its pre-bid price and 21% above Curaleaf's hostile offer, which the board again urges shareholders to reject.
Key Events · M&A and Partnerships · ACB
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Organigram to Acquire Aurora
All-cash, all-stock or mixed consideration at C$7.80 per Aurora share, valuing Aurora at approximately C$561 million on a fully diluted equity value basis.
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Premium to Both Reference Points
93% premium to Aurora's unaffected TSX close on August 10, 2026 and 21% premium to the implied value of Curaleaf's hostile bid as of November 2, 2026.
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Financing Fully Committed
BAT private placement of 141.0 million Organigram shares at C$1.33 for £100,000,000 (C$187.5 million) plus ATB senior secured facilities of up to $210 million, including a $115 million term tranche available at closing.
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Board Rejects Curaleaf Bid Again
Aurora's board unanimously recommends the Organigram transaction and urges holders to take no action and not tender to the Curaleaf hostile bid.
Analysis · ACB · Life Sciences
Aurora has signed a definitive arrangement agreement to be acquired by Organigram at C$7.80 per share — roughly C$561 million on a fully diluted basis — giving shareholders a 93% premium to the pre-Curaleaf price and a 21% premium to the current value of Curaleaf's hostile bid. The board unanimously recommends the deal and is again telling holders to reject and not tender to Curaleaf. Aurora holders can take cash, Organigram stock, or a mix, with BAT putting in £100 million (C$187.5 million) and ATB committing up to $210 million in credit facilities to fund the cash portion. The outcome now hinges on the December 2026 shareholder votes and regulatory and court approvals, with closing targeted for January 2027.
At the time of this filing, ACB was trading at $4.22 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $277.4M. The 52-week trading range was $2.56 to $6.36. This filing was assessed with positive market sentiment and an importance score of 10 out of 10.