MJ Industry Consolidation brings new #1
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Posted On: 05/16/2018 3:18:56 AM
Consolidation will be the order of the day -- including pharmaceutical, alcohol and tobacco companies......
“We are creating the largest cannabis producer in the world,” Aurora’s chief corporate officer, Cam Battley, said during a conference call with reporters and investors.
Under terms of Monday’s deal, MedReleaf shareholders will receive 3.57 shares of Aurora for each share of MedReleaf that they hold.
Upon completion, Aurora and MedReleaf shareholders would own about 61% and 39% of the merged company, respectively.
Ontario-based MedReleaf trades on the Toronto Stock Exchange as LEAF and Aurora as ACB.
The acquisition is expected to close by August, following shareholder and board approvals.
Consolidation underway
The megadeal is part of a continued consolidation underway in both the cannabis industry and Canada, which is preparing for legal recreational use, expected later this year.
“I think we’re going to continue to see a lot more (consolidation),” said Alan Brochstein, a cannabis industry analyst and founder of 420 Investor. “I think now, we’re going to start seeing deals from pharmaceutical, alcohol and tobacco companies.
“We are creating the largest cannabis producer in the world,” Aurora’s chief corporate officer, Cam Battley, said during a conference call with reporters and investors.
Under terms of Monday’s deal, MedReleaf shareholders will receive 3.57 shares of Aurora for each share of MedReleaf that they hold.
Upon completion, Aurora and MedReleaf shareholders would own about 61% and 39% of the merged company, respectively.
Ontario-based MedReleaf trades on the Toronto Stock Exchange as LEAF and Aurora as ACB.
The acquisition is expected to close by August, following shareholder and board approvals.
Consolidation underway
The megadeal is part of a continued consolidation underway in both the cannabis industry and Canada, which is preparing for legal recreational use, expected later this year.
“I think we’re going to continue to see a lot more (consolidation),” said Alan Brochstein, a cannabis industry analyst and founder of 420 Investor. “I think now, we’re going to start seeing deals from pharmaceutical, alcohol and tobacco companies.
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Lecture, University of Lille (7 December 1854)
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