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Aurora Cannabis ups bid for CanniMed to C$1.1B

Published 01/24/2018, 11:39 AM
© Reuters.  Aurora Cannabis ups bid for CanniMed to C$1.1B
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  • Aurora Cannabis (OTCQX:ACBFF -1.6%) has sweetened its offer for CanniMed Therapeutics (OTC:CMMDF +17.6%) up to C$1.1B. Under the terms of the revised bid, CanniMed shareholders may receive 3.4 Aurora shares or a combination of cash and shares subject to a maximum cash consideration of $140M. Assuming the maximum cash outlay, a holder of one share of CanniMed would receive $5.70 in cash and 2.9493 Aurora shares.
  • Aurora says its offer equates to $43/CanniMed share based on a $12.65 implied price per Aurora share and the 3.4 exchange ratio.
  • Previously: Cannimed adopts shareholder rights plan as it considers Aurora bid (Nov. 29, 2017)
  • Now read: What The Future Holds For Aurora Cannabis


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