Organigram Global Acquires Aurora Cannabis in $561 Million Deal

Organigram Global Inc. signed a friendly agreement to acquire Aurora Cannabis Inc. in a transaction valuing the company at $561 million. Under the terms of the deal, Aurora shareholders may receive $7.80 per share in cash, 5.8626 Organigram shares per share, or a combination of both. The agreement caps total cash payments at $253.6 million and limits the issuance of shares to 205.8 million.

This acquisition follows a hostile bid made earlier this year by Curaleaf Holdings Inc., which had offered US$5 per Aurora share through a combination of 0.4013 Curaleaf shares and US$1 in cash. Aurora leadership stated that the current friendly offer from Organigram resulted from a strategic review process.

James Yamanaka, CEO of Organigram, described the acquisition as a defining step toward establishing the company as a global cannabis leader. Miguel González, Executive Chair and CEO of Aurora Cannabis, stated that the offer delivers compelling value to shareholders.