CanniMed postpones shareholder assembly to reason talks with Aurora Cannabis
CanniMed Therapeutics Inc. is postponing a pivotal shareholder assembly to give it time to reason talks with Aurora Cannabis Inc., that has done a antagonistic takeover offer for a company.
CanniMed shares, that were halted progressing in a day tentative news, shot adult 24 per cent $34.51 after they resumed trade on a TSX. Shares of Aurora were adult some-more than dual per cent.
The assembly had been set for Jan. 23 for CanniMed shareholders to opinion on a devise to emanate shares in a merger of Newstrike Resources Ltd. The assembly will now be hold on Jan. 25.
CanniMed cautioned “there is no certainty that any such contention will outcome in an agreement among a parties in honour of a transaction or in any change to a terms of Aurora’s offer.”
Aurora has done an all-stock offer for a association value adult to $24 per share. However, a offer requires CanniMed to dump a skeleton to acquire Newstrike.
CanniMed has urged a shareholders to opinion in foster of a Newstrike deal, though 3 of a Saskatoon-based company’s biggest shareholders representing 38 per cent of superb shares have sealed lock-up agreements subsidy Aurora’s bid.
Newstrike shareholders voted overwhelmingly in foster on Wednesday of a merger of a association by CanniMed.
Article source: http://www.cbc.ca/news/business/cannimed-aurora-talks-1.4493124?cmp=rss