CanniMed adopts shareholder rights devise in takeover quarrel with Aurora Cannabis
CanniMed Therapeutics Inc. says it has adopted a shareholder rights devise in a bid to urge itself opposite a antagonistic takeover offer by Aurora Cannabis Inc.
The association says a pierce will safeguard a shareholders have a possibility to opinion on a possess merger of Newstrike Resources Ltd.
The rights devise prevents Aurora from appropriation any CanniMed shares other than those tendered to a antagonistic bid or from entering into any lock-up agreements other than those it has already sealed and filed, CanniMed says.
Aurora has done an all-stock offer for CanniMed value adult to $24 per share, with one of a conditions being that CanniMed desert a possess due merger of Newstrike.
Aurora has also pronounced that it has sealed lock-up agreements with 4 CanniMed shareholders — that contain 38 per cent of superb shares — to support a unsolicited takeover bid.
CanniMed has pronounced a Aurora merger does not make clarity for a shareholders, though a multiple with Newstrike will broach poignant shareholder value.
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Article source: http://www.cbc.ca/news/business/cannimed-shareholders-rights-plan-1.4424779?cmp=rss