Aphria, Aurora Cannabis explored merger in recent talks
Aphria Inc. and Aurora Cannabis Inc. recently held advanced talks to merge the two Canadian pot producers in what would have been a blockbuster deal, but those discussions broke down late last week, according to two people familiar with the matter.
The two companies opted to step back from merger discussions that took place over several weeks after failing to agree on board composition and compensation for some senior executives, the people told BNN Bloomberg under the condition of anonymity. It is not known if the two companies will revisit merger talks in the future, the people said. The negotiations have not previously been reported.
Michelle Lefler, vice-president of communications at Aurora, told BNN Bloomberg in an email that the company’s practice is “not to comment on rumours or speculation.”
Aphria chief corporate affairs officer Tamara Macgregor told BNN Bloomberg via email that “while the company may engage in discussions with potential strategic partners from time to time, the company can confirm that there is no agreement, understanding or arrangement of any kind in place with Aurora regarding any potential transaction or merger between the parties.”
Macgregor added that Aphria will “advise the investment community of any material events to the company, if and when they occur.”
Reported by BNN Bloomberg