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

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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.

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