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Aphria Inc. and Tilray Inc. have agreed to merge in a deal that forms the world’s largest cannabis company.
The all-stock deal will create a company valued at about 5 billion Canadian dollars ($3.9 billion) that generated $685 million of sales over the past year, making it larger than all other companies in the global cannabis industry.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TLRY | TILRAY INC | 9.38 | +1.50 | +19.12% |
| APHA | APHRIA | 8.13 | +0.01 | +0.17% |
“By leveraging our combined strengths and capabilities, we expect to be able to meet the needs of consumers more effectively all over the world and advance patient care,” Tilray CEO Brendan Kennedy said in a statement.
The new company, which will use the name Tilary and trade on the Nasdaq under the ticker TLRY, will have a portfolio of branded products in Canada and will pursue medical opportunities in Europe.
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Tilray will also have a packaged goods presence in the U.S. through its cannabis lifestyle craft brewer SweetWater Brewing Co. and Manitoba Harvest, a CBD and wellness product manufacturer.
Under the terms of the deal, Aphria shareholders will receive 0.8381 Tilray shares for…
