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Curaleaf offers $272 million for Aurora Cannabis in cash-and-stock deal
The proposal values Aurora at about $4 per share and includes 0.3463 Curaleaf shares plus $0.75 in cash, implying a roughly 45% premium to its 30-day VWAP.
Curaleaf has launched an unsolicited tender offer to acquire Aurora Cannabis in a cash-and-stock deal valued at about $272 million, as the cannabis industry accelerates consolidation efforts, according to MarketBeat Ratings.
Under the terms proposed on Aug. 11, 2026, Aurora shareholders would receive 0.3463 subordinate voting shares of Curaleaf plus 75 cents in cash for each Aurora share held. The offer implies an approximately $4 per share value and a nearly 45% premium over Aurora's 30-day volume-weighted average price of $2.75, while the offer’s implied premium rises to about 110% after stripping out cash on Aurora’s balance sheet. The proposal also sets a cap on maximum consideration at $5 per share.
Aurora’s stock rose more than 20% after the announcement. Aurora’s board then formed a Special Committee of independent directors to evaluate the bid, with Aurora leadership noting the $5 consideration cap limits upside versus historical price levels, while also pointing to Aurora’s cash position as a factor to preserve standalone value.
MarketBeat Ratings links Curaleaf’s push to its European expansion strategy, including Curaleaf’s recent move to acquire the remaining 45% minority interest in Four 20 Pharma, giving it total ownership of a major German distribution platform, and the ongoing demand across European medical cannabis markets.