/Green Growth Brands to launch bid for marijuana producer Aphria

Green Growth Brands to launch bid for marijuana producer Aphria

Canadian marijuana company Green Growth Brands Ltd said on Thursday it intends to make an offer for Aphria Inc , valuing the marijuana producer at CUS$2.8 billion (US$2.06 billion).

Aphria CEO Vic Neufeld poses near a wall covering of a marijuana leaf at a party in Toronto
Aphria CEO Vic Neufeld poses near a wall covering of a marijuana leaf at a party the day before Canada’s legalization of recreational cannabis in Toronto, Ontario, Canada October 16, 2018. REUTERS/Chris Helgren

REUTERS: U.S. marijuana company Green Growth Brands Ltd said on Thursday it intends to make an offer for Aphria Inc , valuing the marijuana producer at CUS$2.8 billion (US$2.06 billion).

Green Growth said Aphria shareholders will receive 1.5714 Green Growth shares for each of their share, representing a premium of 45.5 percent over Aphria’s closing price on the Toronto Stock Exchange on Dec.24.

(This story corrects lede to say “U.S.”, not “Canadian” marijuana company)

(Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)