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$4 a share: Curaleaf's formal offer for Aurora Cannabis is now public, taken directly to Aurora shareholders on Monday after private talks between Curaleaf CEO Boris Jordan and Aurora CEO Miguel Martin broke down earlier this summer.
The price carries a 45% premium to Aurora's 30-day average share price through August 10, the pre-announcement baseline Curaleaf used.
| Metric | Figure | Status | |--------|--------|--------| | Offer price | $4.00 per share | Reported | | Premium to 30-day avg (Aug 10 base) | 45% | Reported | | Projected annual cost savings | $40M | Curaleaf (projected) | | Projected combined market cap | $3B | Curaleaf (projected) | | Aurora intraday | +1.5% | Reported, Monday | | Curaleaf intraday | -2% | Reported, Monday | Curaleaf's core pitch pairs the immediate premium with access to the U.S.
consumer cannabis market, which Curaleaf says is the world's largest. The company projects a combined entity it characterizes as the primary vehicle for institutional investors seeking legal cannabis exposure.
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