Competition Bureau Clears MedReleaf Acquisition by Aurora

Aurora Cannabis (TSX:ACB) and MedReleaf (TSX:LEAF) announced the Canadian Competition Bureau announced it will not challenge the acquisition between the two.

As quoted in the press release:

Aurora Cannabis and MedReleaf today announced that the Canadian Competition Bureau has issued a no-action letter under the Competition Act (Canada) indicating that it does not intend to challenge the proposed arrangement (the “Arrangement”) between Aurora and MedReleaf, whereby Aurora intends to acquire all of the issued and outstanding common shares of MedReleaf (the “Transaction”).

The Arrangement remains subject to customary closing conditions, including approval by each of Aurora shareholders and MedReleaf shareholders at shareholder meetings scheduled to be held on July 18, 2018, and final court approval. Subject to satisfaction of these closing conditions, the Transaction is expected to close later in July, 2018.

Click here to read the full press release.

Source: www.newswire.ca