Saturday, July 5, 2025

Latest

Sundial Growers Sweetens Deal To Include Cash For Alcanna Shareholders

Sundial Growers (NASDAQ: SNDL) is doing all that it can to salvage its proposed acquisition of Alcanna Inc (TSX: CLIQ). The firm this morning announced that it would be changing the transaction slightly, in an attempt to boost interest among Alcanna shareholders.

The firm now intends to transition the standing offer to purchase Alcanna from an all-stock transaction to that of a cash and stock deal. The new proposal, which is to be voted on tomorrow at the scheduled special shareholder meeting being held by the retailer, would see shareholders receive 8.85 common shares of Sundial as well as $1.50 in cash for each share of Alcanna held.

Effectively, Sundial has come to the realization that Alcanna shareholders simply do not want Sundial paper, and is now looking to make the deal more enticing by adding the cash component. The arrangement also slightly increases the proposed offer, with the prior offer being valued at $8.37 per share at current prices, versus the new offer which sits at $8.43. The latter represents a premium of 15.3% to the closing price of Alcanna as of yesterday.

Whether the offer is approved by shareholders of Alcanna at this point appears to be a matter of whether Alcanna can convince enough of its shareholders to make the effort to vote.

Sundial Growers last traded at $0.61 on the Nasdaq.


Information for this briefing was found via Edgar and the companies mentioned. 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.

Video Articles

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Sundial: “Limited Financial Synergies Arising From the [Inner Spirit] Transaction”

Sundial Growers Inc. (NASDAQ: SNDL) has had a somewhat busy M&A news week this week,...

Sunday, May 9, 2021, 04:41:00 PM

Sundial, Alcanna Postpone Shareholder Vote Due To Lack Of Merger Support

This morning it became apparent why Sundial Growers (NASDAQ: SNDL) was attempting to bolster support...

Monday, December 13, 2021, 08:40:22 AM

Sundial Growers Attempts To Boost Shareholder Sentiment For Alcanna Transaction

Sundial Growers (NASDAQ: SNDL) this morning was looking to bolster support for its previously announced...

Wednesday, December 8, 2021, 09:02:15 AM

Sundial Growers Reports Q3 Revenues Of $14.4 Million, Announces Buyback Program

Sundial Growers (NASDAQ: SNDL) last night reported their third quarter financial results, reporting revenue of...

Friday, November 12, 2021, 07:37:39 AM

Sundial Growers Shareholders Approve Share Consolidation

Sundial Growers (NASDAQ: SNDL) announced the results of its annual shareholder meeting this morning, reporting...

Thursday, May 21, 2020, 08:33:53 AM