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Aurora Cannabis Inc (TSE:ACB) (OTCQB:ACBFF) (FRA:21P) and MedReleaf Corp (TSE:LEAF) (OTCMKTS:MEDFF) (FRA:MEW) announced the biggest merger yet in the Canadian Cannabis sector in an all stock transaction valued at $3.2 billion.
The purchase price implies a premium of thirty-four percent over the average last 20 sessions share price, giving MedReleaf shareholders a major win at $29.45 a share.
“This is transformational transaction that brings together two pioneering cannabis comapnies, ” said Aurora CEO Terry Booth.
Neil Closner, MeReleaf’s CEO said “By combining with Aurora, an integrated producer with an exceptionally strong track record for execution, and deep domestic and international distribution capabilities, we will be ideally positioned to set the global standard for our industry at a pace that will be difficult to match.”
Listen to Aurora Chief Corporate Officer Cam Battley discuss the merger with MedReleaf on Midas Letter LIVE!.
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