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.

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