Aphria, Tilray Granted Regulatory Clearance Under Competition Act For Combination

Aphria Inc (TSX: APHA) (NASDAQ: APHA) this evening reported that the transaction with that of Tilray Inc (NASDAQ: TLRY) is currently slated to close in the second quarter of 2021. The combined entity currently has pro forma revenue of US$685 million on a trailing twelve month basis.

In connection with the transaction, the company this evening launched a website to convince shareholders that it is in their best interest to vote in favour of the transaction. More importantly however, the applicable waiting periods under the Hart Scott-Rodino Antitrust Improvements Act of 1976, has expired, meaning the company effectively has HSR clearance to proceed.

North of the border, the company has received what is referred to as a no-action letter from the Competition Bureau of Canada, meaning that the two firms are approved to proceed with the transaction under the Competition Act of Canada. The two clearances were part of the regulatory hurdles associated with the transaction.

Shareholder approval is still required to be granted for the transactions. Dates for these meetings have yet to be set, as per documents filed by the companies on Friday.

Aphria Inc last traded at $22.75 on the TSX.


Information for this briefing was found via Sedar and Aphria Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Tilray May Own Up To 50% Of Hexo Under Revised Debt Deal

It appears that Tilray Brands (TSX: TLRY) may ultimately end up with a larger stake...

Tuesday, June 14, 2022, 08:55:49 AM

Aphria To Merge With US-Based SweetWater Brewing In US$300 Million Transaction

Aphria Inc (TSX: APHA) (NASDAQ: APHA) this evening announced that it has entered into an...

Wednesday, November 4, 2020, 04:52:47 PM

Tilray Year End: Production Success Overshadowed By Impairments

Tilray Inc. (NASDAQ: TLRY), is off -50% since having published its year end financials after...

Tuesday, March 10, 2020, 09:19:21 AM

FOUR20 Acquires Funding For Litigation Against Tilray

It seems that previously reported litigation against Tilray Inc (NASDAQ: TLRY) will be proceeding following...

Monday, October 5, 2020, 09:01:48 AM

Aphria Closes Acquisition Of SweetWater Brewing

Aphria Inc (TSX: APHA) (NASDAQ: APHA) has closed the previously announced SweetWater Brewing Company transaction....

Monday, November 30, 2020, 07:51:51 AM