Aurora Urges Shareholders to Await Recommendation on Curaleaf Bid
Aurora is advising its shareholders to take no action regarding a revised hostile bid from Curaleaf. The company's special committee has initiated a thorough review of the offer.
Aurora Cannabis Inc. has urged its shareholders to take no action concerning a revised hostile bid presented by Curaleaf Holdings Inc. The company's Board of Directors has formed a special committee to conduct an independent and thorough review of the offer.
Shareholders are advised to wait for the Board's formal recommendation, which will be provided once the review is complete. No specific timeline for the completion of this review has been announced.
Curaleaf's initial bid for Aurora was made earlier this year and was deemed to be below Aurora's market valuation at the time. The decision to revise the bid suggests continued interest from Curaleaf, despite not meeting Aurora's previously stated conditions.
The Aurora Board had previously stated that the initial offer was not considered to be in the best interest of the company. A formal recommendation to shareholders will be issued following the completion of the current review process.