The company proposed the deal last week and gave the CanniMed board until Friday to respond. Aurora Cannabis Inc. is pushing ahead with plans for an all-stock takeover offer for CanniMed Therapeutics Inc. after failing to reach an agreement with the company’s board. CanniMed shareholders would own approximately 65 per cent of the combined company, while Newstrike shareholders would hold the remaining 35 per cent. Aurora called CanniMed’s acquisition announcement “extremely troubling” in light of its offer presented to CanniMed’s board on Nov. 13. The Newstrike offer “should be considered oppressive to CanniMed shareholders,” it added.

Source: thestar November 20, 2017 18:00 UTC