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Cannabis Grower Aphria Rejects Green Growth’s Hostile Offer (2)

Feb. 6, 2019, 4:10 PM

Aphria Inc. has rejected a hostile takeover bid from Green Growth Brands Inc., saying it undervalues the Canadian cannabis grower.

Green Growth’s offer, made last month, represents a 23 percent discount to Aphria’s share price, based on the 20-day volume-weighted average price of Green Growth stock immediately before its bid was announced, Aphria said Feb. 6 in a statement. Aphria’s Canadian shares have gained about 75 percent since Green Growth first signaled its intention to launch the offer in late December.

“Regardless of their brazen attempts to suggest otherwise, GGB is asking Aphria shareholders to accept a substantial discount on...

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