Green Growth Says Its All-stock Offer Values Aphria At About $2 Bln
(RTTNews.com) - Green Growth Brands Ltd. said that it currently intends to make an offer to purchase all of the issued and outstanding common shares of Aphria Inc. ( APHA ) which it does not already own. The Offer values Aphria at approximately C$2.8 billion or US$2.1 billion based on a valuation of C$7.00 per share for Green Growth Shares.
The Offer will provide Aphria shareholders with 1.5714 common shares of Green Growth for each Aphria Share and represents premiums of 45.5% over Aphria's closing price on the Toronto Stock Exchange on December 24, 2018.
Green Growth expects to complete a concurrent brokered financing of C$300 million, at a price per share of C$7.00, to both illustrate confidence in the value of the consideration under the Offer and to fund the business growth of the combined entity. Green Growth expects that certain of its existing shareholders will commit to backstop the C$300 million financing concurrently with the execution of a business combination agreement with Aphria or the take up of shares under the anticipated Offer.
Read the original article on RTTNews (http://www.rttnews.com/2965684/green-growth-says-its-all-stock-offer-values-aphria-at-about-2-bln.aspx)
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