Green Growth Brands to launch bid for marijuana producer Aphria

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Alert Sent 2018-12-27 05:03:51 PM ET

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Green Growth Brands to launch bid for marijuana producer Aphria
2018-12-27 05:03:26 PM ET (Reuters)


Dec 27 (Reuters) - Canadian marijuana company Green Growth Brands Ltd said on Thursday it intends to make an offer for Aphria Inc, valuing the marijuana producer at C$2.8 billion ($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. ($1 = 1.3615 Canadian dollars) 

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