Curaleaf Stands by 86% Premium in Aurora Bid After Alberta Regulator Ruling

what happened

Curaleaf said a ruling by the Alberta Securities Commission does not change its position: its enhanced offer for Aurora, it argues, gives shareholders an 86% premium. According to TradingView, the company said Aurora used its at-the-market (ATM) share program heavily before and after the offer was announced, then stopped on August 18. The enhanced offer equals about US$5.00 per share, against an unaffected volume-weighted average price for Aurora of about US$2.75.

Curaleaf also said Aurora keeps it out of customary due diligence while giving other parties access, and repeated that it is ready to engage. In its estimate, a combination could span 17 countries, with over US$1.5 billion in last-twelve-month revenue, nearly US$350 million in adjusted EBITDA, and at least US$40 million in expected annual synergies.

why it matters

For Aurora shareholders, the key reference point is the gap between the offer and the unaffected price, while the dispute over due diligence access and ATM use adds uncertainty to talks. The story matters to investors tracking mergers and acquisitions in the sector.

market impact

Aurora shares: offer premium over unaffected price supports the stock, while the deal dispute adds uncertainty

• ▲Aurora shares pressure up — the offer's premium over the unaffected price supports the stock

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