News Formal

Aphria and Tilray to merge, will use Tilray name for new company

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 99%

United States News News

United States United States Latest News,United States United States Headlines

Aphria Inc. and Tilray Inc. say they will combine to become the world's largest cannabis company based on revenue.

Last Updated Wednesday, December 16, 2020 10:34AM EST

Under the agreement, Aphria will receive 0.8381 shares of Tilray for each Aphria common share, while Tilray's shareholders will see no adjustment to their holdings. The companies said the deal will give them a pro forma revenue of $874 million and see the new Tilray control more than 17 per cent of the retail cannabis market -- the largest share held by any Canadian licensed producer.

"With the Canadian licensed producers, to find $100 million in synergies and savings is pretty difficult," Simon said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Aphria, Tilray merging to create world's biggest cannabis companyDeal creates a new entity with an equity value of about $4.8 billion
Source: nationalpost - 🏆 10. / 80 Read more »

Cannabis company Aphria reports Q3 loss, revenue up from year ago markCannabis company Aphria Inc. says it lost $361 million for the quarter ended Feb. 28 compared with a profit of $5.7 million in the same quarter a year earlier.
Source: CTVNews - 🏆 1. / 99 Read more »