CanniMed seeks regulatory movement opposite Aurora’s antagonistic takeover bid
CanniMed Therapeutics says it is seeking regulatory movement in both Saskatchewan and Ontario in a latest pull behind opposite Aurora Cannabis’ antagonistic takeover bid.
The Saskatoon-based medical pot producer says it has practical to bonds regulators in both provinces for several orders, including that Aurora’s antagonistic offer be deliberate an “insider bid,” and be treated as such.
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CanniMed says in a matter that Aurora acted jointly with a 4 institutional shareholders with whom a association cumulative lock-up agreements amounting to 38 per cent of superb shares before commencing a takeover bid, that should be ceased until 105 days after an insider bid round is delivered to shareholders.
The Saskatoon-based pot association is also seeking that Financial and Consumer Affairs Authority of Saskatchewan and a Ontario Securities Commission need Aurora to redress and scold what it says are “several materially fake and dubious statements” in tie with a antagonistic bid.
The matter comes hours before a dual protected producers are due during an OSC conference where Aurora is seeking to retard CanniMed’s shareholders rights plan.
CanniMed has argued that Aurora’s all-stock offer for a association value adult to $24 per share does not make clarity for shareholders, though a possess bid to acquire Newstrike Resources Ltd. does.
- Aurora takeover bid ‘makes no sense,’ formed on arrogant share price:Â CanniMed
- CanniMed tells shareholders to wait while it reviews Aurora offer
Article source: http://www.cbc.ca/news/business/cannimed-aurora-takeover-regulators-1.4442664?cmp=rss