Here’s a little more detail
Aurora, which runs its operations out of Edmonton, Alberta, agreed to acquire CanniMed Therapeutics in a sweetened offer worth C$1.23 billion ($950 million) in January, after its smaller rival originally rebuffed its efforts to acquire the company.
Aurora jumped 0.70 percent to C$11.82 as of 9:54 a.m. in Toronto. CanniMed rose .20 percent to C$40.29, for a market value of C$992 million.
More than two-thirds of CanniMed shareholders have tendered their shares ahead of the Friday deadline, clearing the way for the cash and stock deal, said the people, who asked to remain anonymous because the matter is private.
“We are still satisfying material conditions of the transaction and we have an outside date of March 9 and we are going to beat that,” said Aurora spokesman Cam Battley.
A representative for Saskatoon, Saskatchewan-based CanniMed didn’t return requests for comment.
