Cannabis MSO Curaleaf Planning Hostile Takeover of Canada’s Aurora Cannabis

The multistate cannabis operator (MSO) Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) announced Tuesday that it plans to launch a hostile takeover bid of Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a Canada-based global cannabis company.

The offer to purchase all of the company’s issued and outstanding shares includes cash and Curaleaf stock valued at $4 per Aurora Cannabis share, which Curaleaf noted is a 45% premium to Aurora’s 30-day volume-weighted average price (VWAP) and a 110% to Aurora’s 30-day VWAP excluding balance sheet cash.

“We believe this combination represents a win-win for Curaleaf and Aurora shareholders,” said Boris Jordan, Chairman of the Board and Chief Executive Officer of Curaleaf. “We are offering Aurora shareholders a unique opportunity to participate in a more highly diversified global platform and increase their exposure to U.S. regulatory tailwinds.”

Jordan said in the release that Curaleaf first approached Aurora on June 23, 2026, but that the company decided to make its intentions public after Aurora “refused to meaningfully engage.”

Meanwhile, Aurora Cannabis Inc. acknowledged the unsolicited takeover bid on Tuesday and confirmed the company had received letters from Curaleaf outlining plans for the takeover.

Aurora also contested the claims by Curaleaf that its management had refused to engage — “Aurora’s lead independent director did correspond with Curaleaf’s CEO, including as recently as July 24, 2026, noting that Aurora was focused on continuing to execute on its business plan over the short to medium term, and did not discourage an ongoing dialogue between the parties going forward,” the company said in its own press release on Tuesday.

“The Board intends to form a special committee of independent directors to consider the Proposal, with a view to determining the course of action that is in the best interests of the Company and all stakeholders,” the company said.