Curaleaf Sweetens Aurora Cannabis Bid to $5.00/Share, 86% Premium
CURLF sits 84% above its 52-week low of $5.4.
Summary
Curaleaf raised its hostile offer for Aurora Cannabis to US$5.00 per share, up from US$4.00, with a new mix of 0.4013 Curaleaf shares plus US$1.00 cash. The enhanced bid represents an 86% premium to Aurora's 30-day VWAP of US$2.75, versus 45% previously. Aurora's board rejected the original offer in September, calling it undervalued, but Curaleaf says shareholder meetings show support for the deal. The move comes despite Aurora's refusal to engage or provide due diligence, signaling Curaleaf's determination to close. Aurora shares rose 5.1% premarket on the news. Curaleaf's amended offer extends the expiry to December 4, 2026, and registers 4,162,854 additional shares for the increased consideration. Watch for Aurora's formal response and any regulatory hurdles.
Updated with an SEC F-80 filing · What changed
Updates
· SEC F-80 — Curaleaf's amended offer extends the expiry to December 4, 2026, and registers 4,162,854 additional shares for the increased consideration.
At the time of this announcement, CURLF was trading at $9.95 on OTC in the Life Sciences sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $5.40 to $15.15. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.