Bloomberg reports that cannabis retailer Green Growth Brands Inc. is looking to buy Canada-based Aphria Inc. for about $1.8 billion, less than a month after the Canadian company rejected the bid.
Green Growth hasn't changed its terms since the first bid in December offering 1.57 Green Growth shares per Aphria share. “The combination of Aphria’s Canadian supply and wholesale agreements with Green Growth’s vertically integrated operations and rapidly growing retail footprint in the United States best positions us to capitalize on the massive growth opportunities in North America and beyond,” Peter Horvath, chief executive officer of Green Growth said in a statement Tuesday. However, in a statement late Tuesday, Aphria urged shareholders to take no action until the board makes a formal recommendation.