Curaleaf Raises Aurora Cannabis Takeover Offer to $6 a Share and $324 Million to Push Past Board Opposition

Curaleaf Holdings has sweetened its hostile takeover bid for Aurora Cannabis, lifting its per-share offer to $6.00 from $5.00 and valuing the deal at $324.2 million in a direct appeal to Aurora shareholders designed to circumvent the target's board. The move is the latest escalation in a campaign that began in August 2026, when Curaleaf launched an unsolicited offer at $4.00 per share, consisting of 0.3463 Curaleaf subordinate voting shares plus $0.75 in cash for each Aurora share.

Aurora's board has unanimously rejected each prior proposal, urging shareholders to take no action and not tender their shares. The board argued the original bid was inadequate and highlighted Curaleaf's debt load of over $1 billion, while also noting Aurora is debt-free with a strong cash position. By going directly to shareholders at a higher price, Curaleaf is attempting to build enough tendering support to complete the acquisition without board cooperation.

The enhanced offer represents a substantial premium above Aurora's pre-bid trading level of just under $3 per share, and Aurora shares had already climbed to around $4 following the initial announcement. The raised bid to $6.00 further widens that premium, increasing pressure on Aurora shareholders to consider tendering before any extended deadline.