Green Growth to launch hostile bid for pot producer Aphria
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Aphria (APHA) Board Says GGB is Attempting to Acquire Company Through Highly Conditional Offer at Significant Discount to its Current and Future Value
December 28, 2018 6:35 AM ESTAphria Inc. (TSX: APHA) (NYSE: APHA ) today responds to the unsolicited proposal by Xanthic Biopharma Inc. d.b.a. Green Growth Brands Ltd. (CSE:GGB) (" GGB ") to acquire all of the Company's outstanding common shares in an all-stock transaction.
Based on the 20-day volume weighted average price of GGB shares and the expressed exchange ratio of 1.5714 common shares of GGB for each Aphria share, the proposed bid would be approximately 23% below the Company's average share price over the same period. Aphria shareholders should be... More
