Organigram to Acquire Aurora Cannabis for C$561 Million, Topping 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, effectively displacing a hostile takeover attempt by Curaleaf Holdings. The C$7.80 price represents a premium over Aurora's unaffected share price from August 10, 2026, the last full trading day before Curaleaf publicly announced its intention to launch a hostile bid, and a 21% premium over the current bid value of Curaleaf's most recently amended hostile offer as of October 6, 2026.

Curaleaf launched its unsolicited bid for Aurora on August 18, 2026, under terms that offered US$0.75 in cash plus a variable number of Curaleaf shares per Aurora common share based on a 20-day volume-weighted average price. Aurora's board unanimously rejected that offer and a subsequent amended version, both times concluding the bids significantly undervalued Aurora and its assets, which include EU-GMP certified facilities and a global medical cannabis platform.

The Organigram arrangement agreement allows Aurora shareholders the option to elect their form of consideration. Organigram cited the complementary nature of its Canadian recreational cannabis operations, production network, and European medical commercial footprint with Aurora's established international medical cannabis presence as the strategic rationale for the deal. Aurora shares surged on the news following the announcement on November 3, 2026.