Curaleaf raises its Aurora Cannabis bid to $5 a share
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Curaleaf raised its offer for Aurora Cannabis on Tuesday, increasing both the cash and share components.
Aurora holders would receive 0.4013 Curaleaf shares plus $1 cash for each share. Curaleaf puts the implied value at $5, based on its October 2 closing price and the exchange rate stated in the filing.
The original August offer carried 0.3463 shares plus 75 cents in cash, which Curaleaf valued at $4.
The ceiling moved too. Maximum consideration under the offer rose from $5 to $6 per Aurora share.
Curaleaf filed a notice of variation with Canadian securities regulators and a new Form F-80 with the SEC. The filing changes the terms of the tender offer. It does not complete an acquisition.
