This week, it was reported that Aurora Cannabis (ACB) and Aphria (APHA) recently held advanced talks to merge in what would have been one of the largest mergers in the cannabis sector to date. Those discussions…
broke down late last week, according to two people familiar with the matter.
Two sources told BNN Bloomberg Both that the companies took a step back from negotiations after failing to agree on board structure and compensation for senior-level executives. They did not know if the two companies would resume talks.
Michelle Lefler, Vice-president of Communications at ACB, told BNN Bloomberg in an email that the company’s corporate policy is “not to comment on rumors or speculation.” APHA was also silent on the matter as a spokesperson for APHA did not provide comment after multiple requests from BNN Bloomberg.
Before the negotiations came to a halt, executives came to a partial agreement that would have seen APHA shareholders control approximately 51 percent of the combined company. ACB shareholders would own the remaining 49 percent. According to one of the sources who were not familiar with the planned exchange ratio, the deal would have been conducted through a share swap. APHA CEO Irwin Simon was set to become Chief Executive Officer of the new company.
This would be a blessing for ACB shareholders because…
Continue reading at STOCKNEWS.com