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Curaleaf Launches Unsolicited Take-Over Bid to Buy Aurora Cannabis

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Curaleaf (CURA.TO)on Tuesday formally launched its unsolicited takeover bid for Aurora Cannabis (ACB.TO, ACB), it said in a statement on Tuesday.

The deal would allow Aurora shareholders to receive total implied consideration of $4.00 per Aurora common share, comprised of 0.3463 of a Curaleaf subordinate voting share and $0.75 in cash and based on Curaleaf's closing share price of $9.39 on Aug. 10, which was the day before the company announced its intention to make the offer. The offer is subject to a maximum value per share of $5.00.

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Aurora Cannabis, in its response to Curaleaf's Aug. 10 press release noted that the proposal added a cap on the value of the consideration of $5.00 per Aurora share, which is a lower price than Aurora shares have traded as recently as Dec.18, 2025. Aurora Cannabis had also said that its board intended to form a special committee of independent directors to consider the proposal.

Curaleaf acknowledged the formation of Aurora Cannabis' Special Committee to review the offer.

"We remain disappointed that Aurora's management and Board have not meaningfully engaged with us on the merits of our proposal. A one-line response to an offer is not meaningful engagement - it is a dismissal - and Aurora shareholders deserve the opportunity to fully evaluate the potential benefits of this transaction," said Curaleaf chief executive Boris Jordan.

"However, we are hopeful that Aurora's Special Committee will see, as we do, that the financial and strategic rationales for a combination with Curaleaf are compelling, and that this transaction is in the best interest of Aurora shareholders. We remain available for productive conversations with the Special Committee to ensure that the benefits of the combination can be realized by the shareholders of both of our companies as soon as possible," Jordan continued.

Curaleaf's offer will remain open for acceptance until 5:00 p.m., Mountain Time, on Dec. 1, unless extended, varied or withdrawn in accordance with its terms, it said.

Shares of Curaleaf were last seen down 2.5% at C$12.66 on the Toronto Stock Exchange. Aurora Cannabis shares were up 3% at C$5.15 on the TSX.

Price: $12.93, Change: $-0.06, Percent Change: -0.46%

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