Aurora rejects Curaleaf takeover offer
- Aurora Cannabis’ board unanimously recommended shareholders reject Curaleaf Holdings’ unsolicited takeover bid.
- Aurora said it has approximately $149 million in cash and no debt, while Curaleaf has more than $1 billion in debt.
- The company stated it plans to continue operating as an independent global medical cannabis business.
Aurora Cannabis (NASDAQ:ACB) recommended that shareholders reject Curaleaf Holdings’ unsolicited hostile takeover bid, advising investors not to tender their shares or withdraw any previously tendered shares.
Aurora stated that its June 30, 2026 financial position included approximately $149 million in cash and no debt, while Curaleaf Holdings reported more than $1 billion in debt during the same period.
Aurora stated that it believes the offer undervalues the company, does not provide an adequate change-of-control premium, and would allow Curaleaf to gain control of a portion of Aurora’s cash balance if the transaction closes.
Aurora stated that under the proposed exchange ratio, its shareholders would own approximately 7.7% of the combined company and hold about 3.2% of voting rights.
Aurora Cannabis operates as a global medical cannabis company with cultivation, manufacturing, and distribution operations across international markets.
The company highlighted its EU-GMP manufacturing network, international operations, and balance sheet as part of its standalone strategy while continuing to evaluate its future growth plans.
