Green Growth does not have any operations in Canada

Green Growth Brands Inc (C:GGB)
Shares Issued 182,267,972
Last Close 1/22/2019 $5.98
Wednesday January 23 2019 - In the News

Also Aphria Inc (C:APHA) In the News

The Globe and Mail reports in its Wednesday, Jan. 23, edition that Green Growth Brands has formally filed its unsolicited offer to buy Aphria. The Globe's Christina Pellegrini writes that in the takeover bid made public on Tuesday, Green Growth said it would give investors in Aphria 1.5714 shares of the Columbus, Ohio-based company for each Aphria share. Green Growth stock closed Tuesday at $5.98. 

At that price, the deal would be worth $2.3-billion. 

Aphria has a market capitalization of $2.35-billion. 

Green Growth is formalizing its bid three weeks after it was first announced and nearly two weeks after Aphria's chief executive officer and co-founder said they would step down in the coming months. 

Aphria has been facing scrutiny about its deal-making and slumping share price. With a market capitalization of $1.1-billion, Green Growth is a much smaller company than Aphria. 

It is backed by the Schottenstein family, who are Ohio-based billionaires who own significant interests in American Eagle and DSW Shoes. 

Green Growth does not have any operations in Canada today but buying Aphria would make the little-known company one of Canada's largest cannabis firms by sales. The bid will remain open until May 9.

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