Curaleaf Criticizes Aurora Board Over Unequal Due Diligence Access

(RTTNews) - Monday, Curaleaf Holdings, Inc. (CURLF.PK) shared its response to Aurora Cannabis Inc.'s Notice of Change to its directors' circular, which recommended that shareholders reject Curaleaf's enhanced proposal.

The company's CEO Boris Jordan criticized Aurora's Board for denying Curaleaf due diligence access while allowing other potential bidders to review confidential information. Jordan said the Board's approach raised concerns about whether it was acting in shareholders' best interests and argued that engagement with Curaleaf would better support shareholder value.

Curaleaf defended its enhanced offer, stating that it represents an 86% premium to Aurora's unaffected 30-day volume-weighted average share price and a 217% premium on an ex-cash basis. The company also cited Aurora's issuance of shares under its at-the-market program at prices as low as $2.60 per share in July 2026, contrasting those prices with Curaleaf's proposed $5.00-per-share valuation, which it described as a 92% premium.

The company further argued that the implied transaction multiple of 14.3 times Aurora's 2026 adjusted EBITDA exceeds Curaleaf's multiple of 13.7 times, based on IFRS figures.

The company also called on Aurora to provide shareholders with greater transparency regarding the fairness opinion and to consider obtaining a second opinion from an independent advisor.

Curaleaf said it remains ready to engage immediately with Aurora in a constructive due diligence process.

Curaleaf's stock closed trading at $7.83, down 6.79 percent on the OTC Markets.