Aurora Cannabis said it is maintaining its recommendation that shareholders take no action on Curaleaf's hostile take-over bid because Curaleaf has yet to file the Notice of Variation and Change needed to formally revise the offer. Curaleaf has stated an intention to offer revised implied consideration of US$5.00 per Aurora share, consisting of 0.4013 subordinate voting shares of Curaleaf plus US$1.00 in cash per Aurora share, but Aurora said it has not received the materials required for a full evaluation. Executive Chairman and CEO Miguel Martin said the Special Committee of independent directors will review any formal revised offer once received with the same rigorous, independent and disciplined process applied previously, and the Board will communicate its recommendation once that review is complete. Aurora said its application to the Alberta Securities Commission delivered results, as Curaleaf has now agreed to amend its bid circular to include required pro forma financial statements and to extend the expiry time for the Hostile Bid to 11:59pm Mountain Time on December 4, 2026. Aurora shareholders will have until at least December 4, 2026 to consider their options, and the Board's formal recommendation will be provided through a news release and Directors' Circular within 15 days in accordance with applicable securities laws.
Aurora Cannabis IncAurora maintains 'take no action' stance on Curaleaf's hostile bid, which has yet to be formally revised, and won a regulatory outcome at the Alberta Securities Commission extending the bid deadline.
Shanghai Henlius Biotech IncCuraleaf's hostile bid for Aurora remains unfiled as a formal revised offer and it agreed to amend its bid circular and extend the expiry to December 4, 2026.
