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The biggest hostile takeover battle in legal cannabis history has spilled entirely into public view. Curaleaf's $4-per-share bid for Aurora Cannabis ($ACB), worth about $272 million and open since Aug.
18, is meeting its second formal board rejection, with Curaleaf Chairman and CEO Boris Jordan making the case on X while Aurora CEO Miguel Martin pushed back on LinkedIn.
The case for the deal rests on a 45% premium, by Curaleaf's count; what complicates the read-through is that Aurora holds $149 million in cash with no debt while Curaleaf carries roughly $1 billion in debt and lease liabilities.
Where the math gets contested Jordan's public argument is that Aurora management "never signed an NDA, never discussed price, and never made a counteroffer," framing the rejection as avoidance rather than a legitimate valuation dispute.
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