Canadian company Aurora Cannabis Inc. is about to gain more momentum and grow within the industry. Aurora has been in talks with CanniMed and Newstrike about a potential buyout.
While Aurora has been moving in, as to come to some kind of a transaction agreement with CanniMed. However, CanniMed has pushed back with some resistance based on the stock bid that garnered C$24.
Even a representative has not come forward to comment based on the possible transaction between Canada’s second largest cannabis-based corporation.
The reason behind the hushed silence is the fact, CanniMed has plans to buy Newstrike before Aurora came into the mix. However, everything has become stagnate around Aurora wanting to buy out both companies. There could be a potential fight between CanniMed and Aurora, or at least a sweet financial deal.
Now fast-forwarding to Jan. 24th Aurora and CanniMed have come to a$1 Billion merging agreement. After a silent struggle to secure the transaction, Aurora buying its rival has now solidified Canada as the forefront runner in the cannabis industry. After legalization and regulations guarantee a safe cannabis environment, Aurora is by far the main competition now.