The Aporia
Curaleaf Holdings Inc., based in Stamford, Connecticut, announced it would sweeten its takeover offer for rival cannabis company Aurora Cannabis Inc. by raising the value to US$5 per Aurora share from a previous offer of US$4 per share. The new bid includes an exchange rate of 0.4013 Curaleaf shares plus US$1 cash, based on Curaleaf’s October 2 closing price. This move comes after Aurora rejected Curaleaf's earlier hostile takeover bid over the summer that offered 0.3463 Curaleaf subordinate voting shares plus $0.75 in cash per Aurora share. Miguel Martin, CEO of Aurora, noted in a statement that his company has not yet received formal materials to conduct a proper evaluation of the new offer and urged shareholders for patience.