ACB

bourbonwarrior

ACB has US operations, just not cannabis based. BAT caps its voting shares at 30% and holds the remainder in non-voting preferred shares, a corporate firewall preventing them from fully consolidating OGI onto its core balance sheet, shielding the tobacco parent company from direct regulatory liabilities and the volatility of cannabis margin reporting. BAT's stock listing impacts what it can do directly, so they'll go through a proxy - OGI

GuyOnTheCouch420

Neither ACB and OGI have any operations in the Us. Why does S1 matter?

bourbonwarrior

But they "can't just do what they want" S1 world limits how BAT plays with ACB. OGI would need to dilute if they structured an international JV and supply deal

UsedState7381

The attempt of acquiring ACB continues to struggle, so probably something to do with that.

bourbonwarrior

For ACB and a White Knight such as BAT directly to lock out a Curaleaf takeover, they would have to own more of a % to lock out - plant touching issues

GuyOnTheCouch420

Why could BAT buy OGI but not ACB? They both do the same things

BroChochOooo

BAT has deep pockets they can easily scoop up OGI then ACB then CWEB

bourbonwarrior

BAT Cannot buy ACB due to plant touching activities. OGI could structure a supply relationship with ACB for Canada, ACB could assist with German grown cannabis for the Sanity Group. What does OGI-Phylos relationship provide ACB and its Medical Cannabis aspirations? Further, what does ACB's expanded German grown operations for OGI's Sanity Group? ACB's CEO is ex-tobacco, OGI is all ex-tobacco executives too. Just buy. GL

Machdonkey

Come on BAT. Dip your toe into ACB

the_mammynun

You think BAT rolls up OGI and ACB into one? Wouldn't surprise me.

FuckingJPMAlgos

I am pretty sure this is a bot account. I literally sold my ACB at a loss 10mins ago and now the bot that bouhgt it is posting this. Nobody buy this shit stock.

trsx5

Hey man. I'm sure its a great trade. But I'm not fucking Rain Man. Can you just upload the $ACB position instead?

four_twenty_4_20

Has GTI expressed an interest in expansion to Europe? That's the only thing of value ACB has to offer.

RevolutionaryPlum389

If I was a betting man, I’d bet that green thumb will acquire ACB.

GeoLogic23

Sorry forgot you asked this. Idk what's going on with Glass House lol crazy price action. As far as I am aware there's no Glass House specific news, right? My overall thesis for them hasn't really changed, so I've been buying some recently. Fortunately I did take some profits when they were up big earlier in the year (not enough apparently). Average is $5.25 at the moment. OGI same deal. Not much has changed long term, especially with international getting some hype again. I trust a company like BAT regarding international expansion. Still think OGI will probably merge with a company that has some cash soon. ACB would make a lot of sense. But I haven't been buying OGI on this dip because I bought them hard back in July when they dipped under $0.90. So probably not buying any more unless they dip another 10% or so. Average is $1.10 at the moment.

BroChochOooo

BAT will take over OGI and one ACB

BoJo_Nose6969

Hopefully just a rumors although Boris did respond to said rumor so .. who knows.  For ACB holders, isn't curaleaf deal better than a merger with OGI?  

Equivalent_Smell_325

saw people spreading rumors that OGI is coming out as the rival bidder for ACB, anyone else seeing this?

No_Love_Gained

Good going. I exited some my ACB position earlier this week. My limit sell order hit with the updated bid from Cura. Still have about 30% remaining but will likely sell as I've feeling this will likely be accepted and I don't want to end up with Cura shares.. glta

No_Love_Gained

Boris deriding ACB is true clown show.

GuyOnTheCouch420

Pretty sure CRON and VFF facility are each much bigger than ACB combined facilities. But also i think they aren't really competitive with each other - VFF value, CRON mainstream, ACB premium. Yea MM seems level headed and trustworthy. Doesn't have a long list of making promises and predictions that are super wrong lol. Cant say the same about... I think Boris knows his stock is overvalued and sees an opportunity to backfill with hard assets, cash and market share

GuyOnTheCouch420

CRON and VFF both are more profitable today while in rec and medical. VFF has net cash but less net cash than Aurora. Still given the cash flow and asset base it’s a cleaner story imo. CRON is obv an outlier but multiples more net cash and has cash flows from both operations and income and a very active buy back. OGI less clean. Not sure what to make of them especially given the sanity earn out and how much dilution that will be. Feels less focused. But still I’d say with sanity they are deeper than ACB in Germany now. Will get a better idea of numbers post consolidation and post insurance reimbursement going away. TLRY like OGI is all over the place. But still deep in medical markets. Overall I’d say CRON and VFF cleaner stories with more capabilities and can win in both medical and rec. ACB is prob next cleanest and focused on medical. TLRY and OGI big med exposure but dilution machines and TLRY univestable. Risk/reward might also be worth decibal and Cannara, but I haven’t really finished looking at them so DYODD. You could also go long Auxly along with ACB. Then you constructively have exposure to both intl med and rec

GuyOnTheCouch420

What about VFF, CRON, OGI, TLRY, DBCCD, etc. all are also exporting to multiple markets like ACB is. None including ACB have pharma pathway except for jazz pharma.

ChronicMasterBlazer

This is the new dawn of weed stocks. Curaleaf ups offer, ACB up 15%, and we have 10 comments

FoodCooker62

Since reporting last quarters earnings, tilray diluted about 12% extra shares in a single quarter. 1% of dilution per week LOL. It is mindblowing that a 4% green day is even possible when the share printer is on 24/7. But ACB is on a tear today so apparantly Tilray can have some meme action to make the dilution easier 

BoJo_Nose6969

Boris has been saying since the jump that there's no reason to bid against himself, a position I agree with.  However, this news makes me believe that Curaleaf takeover bid has not been as effective as planned since they raised the bid without any deliberation from ACB.  Curaleaf also announced an increase in partnership with Cannara this morning, meaning their needs in Europe continue to heat up.  

MSOmoneyshreddr

Sucks but I think you made the right choice. I did the same thing with ACB years ago after it went from 16 bucks to 2. There came a point that as terrible as it was, I knew it would get worse, and it did, by a lot.

No_Love_Gained

Sold most of my Auxly today. Taking profits always feels great esp in this sector. Onto my next trade ACB and OGI while HITI continues to cook. Glta

POTCMTD

I hope ACB gets gutted for all the BS they created early on in the industry.

four_twenty_4_20

The aversion is solely about management losing their cushy over paid jobs. It's a decent offer that makes sense for both businesses. Will love to see ACB shareholder reactions if this fails and the SP is instantly cut in half. Because guaranteed thats what will happen if Curaleafs takeover is rejected. ACB bagholders need to cut their losses and recognize CURA shares are the best chance they'll have to be made whole. Many are so deep they'll never be made whole though.

four_twenty_4_20

We all know if the deal doesnt go through ACB SP will drop by 50% within the first 30 minutes of the announcement. It's only at the price it is now because it's loosely linked to the CURA offer price.

antonyto680

I meant that if ACB stock price goes above $5 which is the Curaleaf max offer price value, then shareholders will obviously vote no to the Curaleaf proposal given they can sell for more on the market. So in that scenario, maybe Curaleaf would increase their bid.

four_twenty_4_20

Lol their offer for ACB is hardly "on the cheap".

four_twenty_4_20

There's a limit on the offer price in case regulatory change, that is completely irrelevant to ACB, happens in the US before the offer period closes. Or is that what you mean?

unclegbov

ACB explosion 

four_twenty_4_20

Yup. ACB bagholders are delusional. Not surprising. Will be lots of money to be made shorting ACB if they dont take the offer.

lifetwoshort

ACB is worth less than it’s selling for today.

Big_Issue8640

Yep after ACB’s dilution I was in to them for $90 a share

MainIndustry7513

Acb shareholders dont want curlf. Y. Because they try to sell you on bullshit. Starting with a lowBall offer that's insulting. Imagine trying to buy a house and low ball and screaming. Let me have it. Your A terrible company. But we want you. We want you desperately. Yes BORIS. We know all about rec. Race to the bottom. Prices will drop. Good luck. We will stay with ACB

benzeee403

Funny you say that.....before Canada legalization this is exactly what ACB was. I don't care either way. Just funny how we do the full circle.

GeoLogic23

>Are we speaking for shareholders, or Reddit bagholders? What does this even mean? Both are shareholders. It doesn't matter if you're down from years ago, or a more recent investor like me. You still want a higher return on your investment than what Cura is offering. Even if it's just to have lighter bags. >we know the outlook tomorrow is bleak Literally like my entire premise here is that Curaleaf is pumping the idea of international cannabis. So how is the outlook bleak? Cura is trying to thread a very fine line between shitting on Aurora and also saying how valuable their assets will be to Cura. >ACB shouldn't be acquired because it tried really really really hard? lol you're the one anthropomorphizing this comment. I said they spent a long time, not "tried really hard". Half their PR to shareholders is about having no debt. That's literally the reason I invested in them more recently than whatever imaginary "bagholders" you are fighting. > But if there's one thing Boris has been consistent on, it's aggressively taking market share. Yes he did aggressively expanded by taking on massive debt lol after seeing how awful it worked out for LPs. LPs aggressively expanded, drove up their debt, and **then spent years paying it off. Like Aurora did and like Curaleaf is currently doing.**

Orennji

>So as an ACB shareholder why would you want to join a company that will be servicing debt for years? Are we speaking for shareholders, or Reddit bagholders? A rational shareholder would take an offer for a price that is higher than today's, when we know the outlook tomorrow is bleak. This is a company that pivoted **hard** into exclusively high margin medical/international. And yet has not made a single Euro of free cash flow. >ACB just spent a long time getting rid of all their debt. It makes absolutely no sense from ACB's perspective. ACB shouldn't be acquired because it tried really really really hard?.. What is this anthropomorphized "ACB's perspective"? The people that ran up the original debt are long gone, they have no say in this. Why are you talking as if they should have sunk cost fallacy on this? Or do you mean the CEO Miguel Martin? Despite his public statements, I am fairly sure he is mostly indifferent to what happens to ACB as a stock when you look at his compensation and cost basis of his stock. Anyway, this whole argument is just emotional reasoning. >Whatever synergies ACB could experience with Cura would be competely negated by multiple entire ACBs with of debt that they have. To be honest, it sounds like Boris just wants the EU-GMP facilities and maybe some of the cultivation tech/genetics. Probably not even the branding, just the hard assets. There's already some redundancy they will have to write off. So that means the current offer is literally buying Aurora far above EV just for another source of EU-GMP flower. Now that I think about it, the deal actually sounds worse for Curaleaf at face value. But if there's one thing Boris has been consistent on, it's aggressively taking market share. They're setting up a reliable pipeline of EU supply now instead of waiting years to ramp up organically, rather than cede a gram of market share to the competition.

MainIndustry7513

Buy ACB

GeoLogic23

So as an ACB shareholder why would you want to join a company that will be servicing debt for years? ACB just spent a long time getting rid of all their debt. It makes absolutely no sense from ACB's perspective. If Curaleaf believes international will be profitable, then as an ACB holder i want those profits to go to shareholders. Not go towards servicing debt. Whatever synergies ACB could experience with Cura would be competely negated by multiple entire ACBs with of debt that they have.

PlumDumbCumGetchySum

I WAS pessimistic. But, after gauging Market Makers and learning more about the International Synergies of these two Companies, I feel like this deal WILL go through! ACB just really doesn’t have a story left anyone wants to read. CURA has the imprint in the States to stay afloat and keep the Aurora investors from drowning.

GeoLogic23

You keep saying 45% premium like that matters at this point. Make a real offer or give it up. Boris probably had his Measure 8 buddies shorting ACB to get Curaleaf a good target. **Curaleaf you need to explain how exactly you are getting rid of your massive debt without dilution?** If you can get rid of that much debt through international profits, then ACB will return far more value to shareholders by not having debt to pay off.

the_mammynun

I think what people forget is that both CURA and ACB are public companies. If ACB holders wanted Curaleaf shares, they can simply sell their ACB and buy curaleaf.  People in favor of this deal fail to acknowledge that Aurora offers something unique as an investment in this sector. No debt, and massive operational leverage despite a low valuation. What they have cannot be built out overnight. We could agree that Aurora management could be better , but many people would also argument that Curaleaf is is equally poorly run from a balance sheet perspective, and at risk of greater dilution than Aurora. Aurora diluted because they WANT to..Curaleaf will dilute because it NEEDs to.

Machdonkey

ACB are clearly waiting for a big Pharma offer

Big_Issue8640

I hope the move along ACB sucks, they fucked me once and once is enough.

No_Love_Gained

You can smell their desperation from miles away. Don't think ACB is going to budge at the current price. Things maybchnage if the bid were to go up by a dollar or more.

GeoLogic23

ACB isn't diluting every day. ACB also already got rid of their debt, which is what crushed their stock price over the years. So what do you think is going to happen when Curaleaf need to get rid of their MASSIVE debt? There is absolutely zero scenario they don't have to dilute massively to pay it off. The only scenario is that international cannabis is hugely profitable. Ok well then I'm just keeping Aurora and having that profit go to shareholders. Maybe together their synergies could boost profits between them a bit, but I'd rather get slightly less profits that actually go to shareholders. Instead of slightly higher profits that will be used to pay off Curaleaf debt for years. I don't care who is the "largest". Stop chasing revenue. There's much more important things to worry about.

ArtIdLiketoFind

I have 2650 shares for an ACB of $16.2. I hope this to be my next year’s money maker.

BoJo_Nose6969

How much did ACB pay for this fake news? 

the_mammynun

My concern for Curaleaf, and all major MSOs is that the US market has a decade of price compression and disruption still to come. At least Aurora has EU GMP production assets in several high margin international markets where market growth is only getting started.  I agree that $5 usd / share is probably a reasonable price for Aurora, but considering you are paying in mostly in shares (which I believe to be severely overvalued when compared to some peers), I don't see swapping ACB at a 40% premium for CURA shares as a great value add for shareholders.  Moreover, this is a terrible moment for M&A since rescheduling is causing the stocks to heat up. Aurora could be trading at $5+ usd in a matter of days/weeks when rescheduling news drops purely due to media attention and volume.  Regardless of how they got there, ACB has lots of cash, no debt, and a highly unique position in the international cannabis landscape. Meanwhile Curaleaf is stuck in an archaic state-by-state patchwork model with production facilities in each state the operate in, where margins will certainly be crushed when the US and individual states open the market to more retailers and interstate commerce in the decade to come. So if I was a shareholder in Aurora, I would definitely vote no.  

Tiaan

I'm shocked that the stock prices for both $CURLF and $ACB have been so stable given this acquisition drama.

GuyOnTheCouch420

Why would OgI or CRON need ACB though?

Greengiant2021

You guys have burnt so many investors from the 2018 era we all are pissed with ACB management. Let’s let Cura have a go, lipstick on a pig but probably better than the shit we have now🙁

GuyOnTheCouch420

IIRC Net Income swing was because of how they classified tax treatment or something. I'd say directionally/relatively better than ACB, but on a valuation basis, especially when considering the UTP...they are overvalued compared to the rest of the sector

No_Love_Gained

Watching Miguel Martin (ACB's CEO) taking down Cura's claims on BNN bloomberg. Looks like this this will go down to wire and there'll likely be a middle ground with a better offer some time soon.. Glta

RustyCastIron

I have been screwed by ACB from my investment back in 2018. Still holding because I’m praying that a company takes it over and 10-15 years from now I could recoup some of the money but as of now, it’s pretty much worthless being $90. Hope that curaleaf takes them over and kicks out the current management and turns it around. Either way, I have considered it money I will never get back.

GeoLogic23

Curaleaf's financials have been notoriously bad for a while. ACB hurt shareholders by diluting to get rid of massive debt, but they completed those moves a while back. Idk why anybody would think they'd now want to join the mountain of debt that is Curaleaf.

Greengiant2021

Cura has legs ACB has only proven to burn cash like crazy.

Big_Issue8640

That’s kind of why I don’t want ACB they screwed me as a shareholder, I guess if the deal is getting rid of the current management of ACB would be the only way I vote yes.

Greengiant2021

I know I’ll be voting yes to the takeover…ACB has been screwing shareholders since day 1

hjkfttu

I haven't bought any stock since 2021 but what got me in was I saw how crazy the market went right before weed was legalized in Canada in 2018. ACB, tilray, and canopy exploded and they weren't even good companies. Trulieve, curaleaf, and green thumb are a lot better companies.

FunMinimum9034

Hey everyone, Looking for some feedback on my current portfolio allocation. My total net portfolio value as of today is ~675k CAD. This is a throwaway for privacy but a little bit about me - - age 29 - yearly gross income $117,000 CAD - yearly expenses $45,000 CAD - no debt & no other assets other than what's mentioned below - okay to lock in the funds on a 5 year horizon, *but* might want to buy a house to live in, sometime in the next 4 - 8 years I am trying to build a diversified, tax efficient portfolio while avoiding overlapping with what I already own. Current Investment Portfolio is majority held through Wealthsimple and here is a breakdown which does not include my cash buffer which is basically like an extra ~5% ($36k) on top of the investment portfolio sitting in Savings at 2.5% interest. 100% of the investment portfolio is divided as such: - 15% – Canadian Market (Direct Indexing) - 15% – Individual Stocks (TFSA - 90% US / 10% CA) - 15% – Taxable GIC (4% rate through end of 2027) - 10% – RRSP + FHSA (100% US stocks) - 45% – Non-Registered Account (Target space for this post - NEED ADVICE ON THIS) I want to allocate the remaining 45% of my net portfolio value into my non-registered account. I believe the best approach might be one of these: - using three ETFs at 15% each, OR - using three ETFs at ~12% each + 10% gold, OR - using four ETFs at 9% each + 9% gold I am leaning heavily toward 3 ETFs + Gold. Because my US and Canadian exposures are already heavily covered in my other accounts, my primary goals I believe should be International exposure, diversification and tax efficiency. The Global X's Corporate Class "H-Series" ETFs because they defer dividend taxes into capital gains upon sale. HXDM, Why: Gives me the broad Europe/Asia/Far East exposure I am completely missing right now, without doubling down on the US. HXEM, Why: Captures high-growth economies (India, Brazil, etc.) that aren't in HXDM or my US stock picks. HXT, Why: A tax-efficient Canadian anchor. Combined with my 15% direct index, this brings my total Canadian home-bias to ~30% though. My Questions for Reddit: 1. Is XEQT a trap here? I initially thought about XEQT, but it seems like it would heavily overlap with the US/Canada individual holdings I already have. Is skipping it for pure international exposure the right move or should sub it in for something else or hold 4 ETFs equally. 2. Corporate Class / Swap Risks: For those holding HXDM/HXEM/HXT in taxable accounts, how has the tracking error and tracking your Adjusted Cost Base (ACB) been? Any regulatory concerns I should worry about? 3. Alternative Options: Are there better combinations you would recommend given my portfolio? I held Private Credit and Private Equity previously which I have since learned are not ideal for non registered accounts. Crypto (BTC) is possible consideration as well, but definitely wouldn't want to gamble more than 5% on it. What would you do if you were me? Appreciate any and all insights, critiques and advice!

MCRN_Admiral

MSTR up 10% nice, just a little bit more to reach my ACB of $400

Phillybirds8

I’m hoping for an ACB style buyout from an MSO.

giants-56

Good point, and that definitely could be a contributing factor, but it’s clear the expanded market access is a net benefit for these companies, especially with the uninformed public. Comparing the other US operators to even the Canadian companies who have outperformed during the same time period shows this to be the case (albeit some may be driven by the ACB news), even though their benefit from rescheduling is moreso indirect. It’s an interesting case study for sure…

RustyCastIron

Please someone take control of ACB. My 2018 investment wants a chance to survive and break even in 15-20 years

RustyCastIron

I would be fine with anyone to take over ACB. My investment from 2018 is worth pretty much $0 but I would possibly TRY to dca if a competent(pretty much anyone) replaced the current C level execs. Fuck ACB.

Melodic-District-856

Meh, as an ACB investor we’ve stuck around because we wanted to see a full medical and international platform. I know everyone sees ACB as a dead company, it certainly has been a dead stock. But for those invested in the current vision, this is just the beginning not even close to the finish line Consumer cannabis segment doesn’t wrap up for us until September for goodness sake and we finally got out of growing flowers with BEVO 4 months ago. Current ACB investors are not in a rush or we would have sold by now

BoJo_Nose6969

yep. curaleaf is buying them for what they can grow and those eu gmp facilities, not its sg&a line. if i'm an ACB holder, i would want in.. and asap.

CallShot7029

Yes. But at $5+ They gave an opening offer with the intent of being rejected. Now it’s out there and I suspect it will land much higher. It’s no secret that ACB is a diluting, reverse splitting machine. Acquisition is the only real long term path forward for ACB

RustyCastIron

Yea well I invested 24k on ACB in 2018 and it’s worth $90. Who will make a cum back first? Weed or fake meat? (Also lost 7k on bynd gambling)

TomorrowLow5092

ACB has been selling shares like crazy just to raise the money.

GeoLogic23

ACB with a small acquisition to expand into the UK. https://www.prnewswire.com/news-releases/aurora-cannabis-furthers-global-medical-cannabis-growth-with-accretive-acquisition-of-internode-pharma-limited-and-hap-pharma-limited-expanding-distribution-access-to-the-uk-medical-cannabis-market-302855564.html

No_Love_Gained

Cura's take over bid of ACB again brought up in a BNN Bloomberg news but today. Glta

BoJo_Nose6969

i bet ACB came to the table

Machdonkey

Where's Boris the blade with his ACB official offer?

Glock715

There’s a compelling case for them to join forces with an MSO for sure. The thing that Boris is really trying to sell, is that they need to accept an offer quickly. The reality is they have no debt and $110 million in cash. They have a very long runway to continue executing their business if they so choose. Lots of moving parts in the US over the next year, I can understand a cautious approach for ACB.

Kbarbs4421

I don't think that's more efficient than simply uplisting curlf, right? Plus, I doubt they want to inherit the ACB ticker. Lotta baggage there.

Greedy-Figure-5301

Thoughts on ACB?

FoodCooker62

ACB as part of curaleaf may make sense but standalone the business is a disaster. Sure theyre not burning billions anymore but theres a reason they turned the share printer back on over the last few quarters even as their enterprise value dropped below 150 million. They need money and they cant figure out how to make it themselves. Hope nobody goes chasing this because if the deal doesnt go through i see no reason to hold ACB 

No_Cell6708

Is Rubicon about to pop off now? 23% revenue growth WITHOUT any contribution from their new facility is pretty fat. Y'all miss another LP? That's gotta be the 4th one this week. You missed CRON. You missed VFF. You missed OGI. You missed ACB and their merger news. Don't miss Auxly. June and July data showing Irwin Simon and Tilray have officially been defeated as Auxly takes #2 market share. Auxly doesn't sell beer, but nobody grows product as efficiently as they do. Margins better than the medical players and the MSOS that lack competition. Theirs is the playbook that retail across the world will be modeled after. Q2 report tomorrow morning.

Kbarbs4421

You track ACB, at least a bit, right? Two quick questions: - I seem to recall Aurora scaling back their Canadian operations recently. Is that accurate? Are they now more tilted to international? If so, does that make them a relatively unique LP in terms of assets? - If yes to above, did their most recent Q1 results reflect the scaled back Canadian ops? Are they likely to reflect future results better than trailing results? Just curious on the multiples needed for valuation.

Big_Issue8640

I’ve been screwed by ACB, CGC, and now CURL with these reverse splits

Big_Issue8640

I’d imagine ACB has lots of bag holders I know they took my money, and I’m not interested in getting involved with them again.

Big_Issue8640

$4 a share for ACB is good, but most people are holding bags on that piece of shit. I lost 80% of my investments on it and I’m not looking forward to having back in my investments.

Big_Issue8640

Is ACB going to get another chance to fuck me.

gdren

100p. I'm not an ACB shareholder but if I were, it would have to have a lot more cash in the deal before i'd be interested. Don't really want CURA shares.

Mr_Snow___

# Curaleaf to Aurora Cannabis: We want to buy you for $4/share **What happened:** Curaleaf announced today (Aug 11, 2026) an unsolicited takeover bid for Aurora Cannabis at US$4.00 per share — a 45% premium over Aurora's recent price of ~$2.75. The offer is structured as 0.3463 Curaleaf shares plus $0.75 cash per ACB share. No financing or due diligence conditions attached. Aurora responded same day: forming a special committee of independent directors to evaluate the offer and pushing back on Curaleaf's claim they refused private talks. Says their lead director spoke with Boris Jordan as recently as July 24. Classic hostile-to-friendly dance. ## THE DEAL STRUCTURE **The Offer:** $4/share = 45% premium over Aurora's 30-day VWAP, but 110% when you strip out Aurora's ~$149M in balance sheet cash (they're debt-free). So Curaleaf is essentially paying $2.75 for the operating business while also getting all that cash. **Cap at $5:** If Curaleaf stock surges before deal closes, offer value caps at $5/share to protect from dilution. But that cap still represents an 82% premium — and Aurora traded above $5 as recently as Dec 2025, so long-term holders would get wrecked by this cap. **No conditions:** No financing contingency, no due diligence out. Curaleaf is going in blind and committed. Once formal bid documents file with regulators, shareholders have 105 days to accept (standard Canadian takeover rules). ## THE TIMELINE | Date | Event | |------|-------| | June 23 | Curaleaf CEO Boris Jordan sends letter of intent to Aurora — NO financial terms included (per Aurora) | | July 7 | Follow-up letter includes the $4/share offer | | July 24 | Aurora's lead independent director speaks with Jordan; leaves door open for discussions | | Aug 11 morning | Curaleaf goes public: announces takeover bid after "repeated unsuccessful attempts" to engage privately | | Aug 11 afternoon | Aurora responds: forms special committee, denies refusing engagement | ## WHY CURALEAF WANTS THIS **EU-GMP capacity is the key.** Aurora has 50+ tons/year of EU-GMP certified cultivation (including recently acquired Safari Flower Company). That's a premium quality standard REQUIRED for European medical markets — extremely hard and expensive to build from scratch. Curaleaf only has three EU-GMP facilities in Portugal, Spain, and Canada. Combining Aurora's production with Curaleaf's distribution across Europe = vertical integration under one roof = immediate margin improvement through control over the whole supply chain. $40M annual cost synergies expected. Combined company: $1.5B+ LTM revenue, ~$350M Adjusted EBITDA, approaching $3B market cap, footprint in 17 countries. Plus ACB shareholders get U.S. exposure through Curaleaf if federal rescheduling happens (U.S. is a $32B legal cannabis market per BDSA). ## AURORA'S COUNTER-NARRATIVE Four key pushbacks from Aurora today: 1) **"We didn't refuse to engage"** — lead independent director spoke with Boris Jordan July 24, left door open for discussions 2) **The June letter had NO financial terms** — only the July 7 letter included the $4 offer, and neither specified cash/stock mix until today's public announcement 3) **The $5 cap is a problem** — Aurora traded above that as recently as Dec 2025 4) **We're building something here** — highlighted Safari Flower acquisition and EU-GMP expansion plans already in motion No decision made. Special committee evaluating options. Could negotiate up, could find a white knight, could go standalone.

MatrixOrigin

Lmao TRLY x ACB would be... 😆

No_Love_Gained

Boris says he's valuing ACB at 250-300 mil (usd) where as ACB was expecting around 550-600 mil based on share price in dec. So if this deal happens then I'd expect for it to land somewhere the middle. The important thing is to look out for the valuations of other smaller operators in CA with EU GMP certificate that now become acquisition targets if other MSOs are to follow Cura's playbook to enter europe.

No_Love_Gained

Watching Boris lie through his teeth on BNN bloomberg re this proposed deal. Funny that ACB hadn't come out with a response yet when this was filmed..

SufficientComment

ACB has a solid international medical presence so I like the idea of Curaleaf acquiring them especially at 4 bucks

Fun_Ad527

Is this offer to ACB shareholders just days before the DEA ALJ's due date for a recommended decision on Rescheduling telling, or not?

GeoLogic23

I think in general the sector doesn't move as completely together as people think it does. Some general trends, but there are lots of examples of LPs/MSOs that have completely diverged from others. Same thing I think is happening with volume. The companies with real news today (ACB/OGI) had very high volume. Funny that the "meme" companies did not follow in terms of volume lol almost like investors aren't paying as much attention to them as some people may think.

Kind-Internal9774

ACB has been halted for hours.

No_Love_Gained

Tbh it's a slippery slope. It's like a marriage between a dumpster fire and an incinerator. I've some ACB shares from the house money and am hopiing they don't conver to cura.. Glta