Aurora Cannabis urges shareholders to reject Curaleaf bid

Aurora Cannabis Inc. is appealing to its shareholders to reject an unsolicited takeover bid from Curaleaf Holdings, Inc. The company argues the offer, presented by Curaleaf, is significantly undervalued and detrimental to shareholders' interests. Aurora stands debt-free with approximately C$149 million in cash reserves, whereas Curaleaf carries over C$1 billion in debt.

Miguel Martin, Aurora's executive chairman and CEO, claims Curaleaf is exploiting Aurora's cash to finance the bid, acquire its assets at a reduced price, and shift considerable risks onto Aurora shareholders. Curaleaf's last bid, made last month, valued each Aurora share at US$4.00, including 0.3463 of a Curaleaf subordinate voting share plus an additional US$0.75 in cash. This deal was based on Aurora's closing share price on August 10.

As of Tuesday, Aurora shares were trading at C$5.60 on the Toronto Stock Exchange, down three cents from the previous close. Aurora's stance on the potential acquisition was reported by The Canadian Press on September 2, 2026.