EDMONTON — Aurora Cannabis Inc. is urging its shareholders to reject a hostile takeover bid by Curaleaf Holdings, Inc., saying the unsolicited offer undervalues Aurora and is not in the best interests of shareholders.
Aurora says it is debt free and has about C$149 million in cash, while Curaleaf has over C$1 billion in debt and would gain control over its cash without paying fairly.
Miguel Martin, executive chairman and CEO of Aurora, says Curaleaf is attempting to use Aurora shareholders’ own cash to help finance the bid, acquire Aurora’s assets at a discount and shift material risks onto shareholders.
In response, Curaleaf chairman and chief executive Boris Jordan says he is ready and willing to engage constructively with Aurora to discuss the proposal, but the company has continued to refuse to engage in meaningful talks.
Curaleaf made an offer for Aurora last month that it says is worth US$4.00 per Aurora share including 0.3463 of a Curaleaf subordinate voting share plus 75 cents U.S. in cash, based on its closing share price on Aug. 10.
It says Aurora shareholders can realize immediate value alongside the opportunity to participate in the upside of a substantially larger, more diversified cannabis platform.
Aurora shares were up a penny at C$5.61 in late-morning trading on the Toronto Stock Exchange.
This report by The Canadian Press was first published Sept. 2, 2026.
