Organigram is set to acquire Aurora for C$7.80 per share, a 32.4% premium to the stock’s closing price on Monday.
- Aurora shareholders are expected to own roughly 35% of the combined company’s equity on a fully diluted basis.
- The transaction is expected to be completed by January 2027.
- Organigram edged out Curaleaf’s bid, which was revised to $5 per share last month.
Shares of Aurora Cannabis (ACB) surged more than 20% on Tuesday, to their highest levels since December 2025, after Toronto-based Organigram Global (OGI) agreed to acquire the company for C$561 million ($400 million), potentially bringing an end to a prolonged takeover battle involving Curaleaf Holdings (CURLF).
At the time of writing, CURLF shares were up around 13%, while OGI stock edged 1.3% lower.
Organigram Outbids Curaleaf
Under the agreement, Organigram will acquire Aurora for C$7.80 per share, a 32.4% premium to the stock’s closing price on Monday. It also represents a 93% premium to Aurora’s unaffected share price on August 10, the last full trading day before Curaleaf’s first bid, according to Organigram.
Curaleaf initially launched a takeover bid in August, offering $4 per Aurora share. In October, Curaleaf raised its offer to an implied $5 per share after Aurora rejected its initial proposal.
However, Aurora’s board again rejected the revised bid, arguing that it undervalued the company’s business.
Deal Expected To Close In January 2027
Organigram’s bid received unanimous approval from both companies’ boards, with the deal expected to close in January 2027. Aurora shareholders are expected to own roughly 35% of the combined company’s equity on a fully diluted basis.
The combined company will operate five production and distribution facilities, with expected cost savings exceeding C$50 million. British American Tobacco (BATS), a strategic investor in Organigram, will provide C$187.5 million in financing to support the acquisition.
The merger would combine Organigram’s recreational cannabis operations with Aurora’s international medical cannabis business, expanding their presence across Canada, Europe and Australia.
Retail Sees 4X Growth Potential In ACB Stock
Retail sentiment for ACB on Stocktwits turned ‘bullish’ from ‘neutral’ over the past 24 hours, amid a 433% surge in message volumes. Sentiment flipped to ‘bullish’ from ‘bearish’ for CURLF
One user highlighted BATS’ involvement and expects ACB to climb above $20. It is currently trading at $5.
View this Stocktwits post
ACB shares have jumped about 17% so far in 2026.
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