Curaleaf Holdings, a Stamford, Connecticut-based cannabis company dual-listed on the TSX and OTCQX, announced on August 11, 2026 its intention to launch an unsolicited take-over bid for all outstanding common shares of Edmonton-based Aurora Cannabis, and formally commenced the offer on August 18, 2026. Under the proposed terms, Aurora shareholders would receive 0.3463 Curaleaf subordinate voting shares plus US$0.75 in cash for each Aurora share, representing total implied consideration of approximately US$4.00 per share, capped at US$5.00 per share with a formula-based downward adjustment to the share component if Curaleaf's 20-day volume-weighted average price exceeds the cap. Curaleaf characterized the offer as a 45 percent premium to Aurora's 30-day VWAP of US$2.75, or 110 percent excluding Aurora's balance-sheet cash. The bid follows two private proposal letters (June 23 and July 7, 2026) that Curaleaf says did not receive substantive engagement from Aurora's board; Aurora disputes this characterization, noting its lead independent director corresponded with Curaleaf's CEO as recently as July 24. Aurora's board has formed a special committee of independent directors to evaluate the proposal and has taken no position on it. The offer is not subject to financing or due-diligence conditions, only customary regulatory and other conditions, and is open until 5:00 p.m. MT on December 1, 2026, unless extended. Source: Curaleaf Holdings launched a takeover bid for Aurora Cannabis valuing the Canadian peer at about US$260 million, with Aurora shareholders set to receive 0.3463 Curaleaf shares and 75 cents in cash per Aurora share for total consideration of US$4 per share, capped at US$5 per share; the bid expires at 5:00 p.m. MT on December 1, 2026, unless extended, and is not subject to financing or due-diligence conditions, only customary regulatory and other conditions.