Breaking news this morning out of Leamington Ontario as Aphira’s Board of Directors have voted to formally reject the hostile takeover bid from Ohio’s based Green Growth Brands.
The Board came to this conclusion after they were advise by their Independent Committee, tasked with reviewing the offer, whom also tapped financial and legal advisors to complete their report.
It seems one of the major issues Aphria has is the 23% reduction offer to their shareholders. They had also claimed that they are executing on their strategic plans which shall result in positively for the company.
In an effort to stave of the continued hostile takeover bid Aprhia has launched a website, AphriaFuture.ca, to inform their shareholder further as to why the bid was rejected by the Board & shall be rejected by them.
But our team is warming up the popcorn because we have a feeling this three month soap opera isn’t finished just yet!