Organigram to Acquire Aurora Cannabis for C$561 Million, Blocking Curaleaf Hostile Bid

Organigram Global Inc. has agreed to acquire Aurora Cannabis Inc. in an all-share and cash deal valued at approximately C$561 million, or C$7.80 per Aurora common share. The price represents a premium over Aurora's unaffected share price from August 10, 2026, the last full trading day before Curaleaf Holdings announced its intention to launch a hostile takeover bid, and a 21% premium over the current bid value of Curaleaf's most recently amended hostile offer.

Curaleaf launched its unsolicited bid for Aurora on August 18, 2026, and filed a revised offer on October 6, 2026, both of which Aurora's board unanimously rejected as inadequate and undervaluing the company. The Organigram deal effectively displaces that hostile bid. Aurora shareholders may elect to receive the C$7.80 consideration in cash, Organigram shares, or a combination of both, subject to proration, giving them both immediate liquidity and ongoing participation in the combined entity.

The two companies said the transaction is intended to establish a global cannabis leader, with Organigram shareholders also set to benefit from the greater combined scale. The Alberta Securities Commission had previously dismissed a Curaleaf application to halt Aurora's at-the-market equity program, which Aurora had said predated the hostile bid by more than six months and was unrelated to it.