Aurora Cannabis rejects Curaleaf's unsolicited $4-per-share takeover bid

Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) has responded to an unsolicited takeover bid from Curaleaf Holdings, Inc., stating that its board of directors will form a special committee of independent directors to evaluate the proposal.

Curaleaf stated its intention to acquire all issued and outstanding common shares of Aurora at an implied value of $4.00 per share, consisting of 0.3463 Curaleaf subordinate voting shares plus $0.75 in cash per Aurora share. The proposal includes a cap on consideration of $5.00 per Aurora share, which Aurora noted is below the price at which its shares traded as recently as Dec. 18, 2025.

According to the press release, Aurora received letters from Curaleaf dated June 23, 2026, and July 7, 2026, outlining acquisition proposals. Only the July 7 letter included proposed financial terms, and it did not specify the mix of cash and share consideration.

Aurora disputed Curaleaf's assertion that it refused to engage, stating that its lead independent director corresponded with Curaleaf's CEO as recently as July 24, 2026, indicating Aurora was focused on executing its existing business plan while not discouraging further dialogue.

The Aurora board said no decision has been made regarding the proposal and that there is no assurance any transaction will result. The company said shareholders do not need to take any action at this time.

Aurora recently completed the acquisition of Safari Flower Company as part of its stated strategy to expand its global medical cannabis platform.

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