Hostile Takeovers and Poison Pills: Canadian Cannabis Gets Combative
In yet another sign of the Canadian cannabis industry’s rapid evolution, the sector is now witnessing its first attempt at a hostile corporate takeover.
In November, Vancouver-based medical marijuana producer Aurora Cannabis offered to buy rival CanniMed Therapeutics, in an “all-stock” deal that valued the smaller firm at a whopping $562 million—the largest deal in the cannabis sector to date.
When CanniMed’s management declined the offer, Aurora announced that it would appeal directly to the company’s investors—a so-called “hostile” bid.
Read More at Leafly.com