About 70 percent of CanniMeds total outstanding shares had been tendered as of Thursday, Aurora said in a statement.
Vancouver-based Aurora also said it would issue about 50.6 million of its own shares and pay about C$98 million in cash for the CanniMed shares tendered as of March 8.
The Return on Invested Capital (aka ROIC) for Aurora Cannabis Inc. (TSX:ACB) is -0.064374. The Return on Invested Capital is a ratio that determines whether a company is profitable or not. It tells investors how well a company is turning their capital into profits. The ROIC is calculated by dividing the net operating profit (or EBIT) by the employed capital. The employed capital is calculated by subrating current liabilities from total assets. Similarly, the Return on Invested Capital Quality ratio is a tool in evaluating the quality of a company’s ROIC over the course of five years. The ROIC Quality of Aurora Cannabis Inc. (TSX:ACB) is . This is calculated by dividing the five year average ROIC by the Standard Deviation of the 5 year ROIC. The ROIC 5 year average is calculated using the five year average EBIT, five year average (net working capital and net fixed assets). The ROIC 5 year average of Aurora Cannabis Inc. (TSX:ACB) is .
The deal, which won regulatory approval in February after months of tensions between the companies, comes at a time when cannabis producers are jostling to gain from Canadas move to legalize recreational use of pot.
The C-Score is a system developed by James Montier that helps determine whether a company is involved in falsifying their financial statements. The C-Score is calculated by a variety of items, including a growing difference in net income verse cash flow, increasing days outstanding, growing days sales of inventory, increasing assets to sales, declines in depreciation, and high total asset growth. The C-Score of Univar Inc. (NYSE:UNVR) is 2.00000. The score ranges on a scale of -1 to 6. If the score is -1, then there is not enough information to determine the C-Score. If the number is at zero (0) then there is no evidence of fraudulent book cooking, whereas a number of 6 indicates a high likelihood of fraudulent activity. The C-Score assists investors in assessing the likelihood of a company cheating in the books.
Aurora successful in offer for CanniMed shares, integration to start
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EDMONTON, B.C. — Aurora Cannabis Inc. says it has been successful in its friendly offer for CanniMed Therapeutics Inc. and will now begin the process of combining the two companies.
This news release contains certain forward-looking statements within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as plan, continue, expect, project, intend, believe, anticipate, estimate, may, will, potential, proposed and other similar words, or statements that certain events or conditions may or will occur. These statements are only predictions. Forward looking statements in release include statements regarding Auroras intention to take-up CanniMed Shares under the Offer. Various assumptions were made in making such forward looking statements, including assumptions based upon Auroras intent to take-up CanniMed Shares and CanniMed shareholders tendering to the Offer. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. CanniMed is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing CanniMed appears in its Annual Information Form and continuous disclosure filings, which are available at www.sedar.com.
The company says 70.66 per cent of CanniMeds shares have been tendered to its offer and that it will now take up and pay for them as soon as possible.
Aurora will issue about 50.6 million shares and pay about $98 million in cash for the CanniMed Shares tendered as of Thursday.
The number of CanniMed common shares (the CanniMed Shares) tendered as at the close of business on March 8, 2018 totals 17,847,341, representing approximately 70.66% of the total outstanding CanniMed Shares on a fully diluted basis. All of the conditions to the Offer having been met, Aurora will take up the tendered CanniMed Shares and pay for those shares as soon as possible, and in any event not later than 3 business days after the CanniMed Shares are taken up. Aurora will issue a total of approximately 50.6 million Aurora common shares and pay a total of approximately $98 million in cash for the CanniMed Shares tendered as of March 8, 2018.
The offer for the remaining outstanding shares has also been extended by 15 days to 11:59 PT on March 25
AURORA CANNABIS IN (OTCMKTS:ACBFF) announced recently that its yet to obtain a No Action Letter from the Competition Bureau of Canada concerning its application to acquire CanniMed Therapeutics Inc. The company is awaiting approval under Competition Act that would be the final regulatory approval required prior to the company taking up the CanniMed outstanding common shares.
Aurora struck a stock-and-cash deal valued at $1.1 billion to buy CanniMed in January.
The agreement ended a sometimes-bitter takeover battle between the marijuana companies.
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