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Tilray (TLRY) & Aphria (APHA) Announce Closing of Transaction That Creates the "New" Tilray – a Global Cannabis Leader streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
May 3, 2021 at 8:46 am Published by NCV Newswire Tilray & Aphria Announce Closing of Transaction That Creates the “New” Tilray – a Global Cannabis Leader Operational Efficiencies Expected to Generate Approximately US$81 Million Annual Pre-Tax Cost-Saving Synergies for New Tilray Within Eighteen Months Irwin D. Simon, Aphria’s Chairman and CEO, will Lead the New Tilray and Has Appointed New Executive Leadership Team; New Members of the Board of Directors Also Appointed New Tilray Poised to Transform the Global Cannabis Industry as a Consumer Packaged Goods Powerhouse with a Diversified Portfolio of Leading Brands Renewed Financial Strength to Drive Accelerated Growth Strategy and Sustained Profitability ....
Tilray, Inc. (NASDAQ: TLRY) and Aphria, Inc. (NASDAQ:APHA) have merged after months of negotiations, creating a company with a combined market cap of $3.3 billion. The two Canadian cannabis giants had been in talks since December with Aphria’s current CEO Irwin Simon to create a new enterprise. In April, Aphria shareholders finally voted in favor of the merger. Tilray shareholders followed suit and approved the transaction on Friday. The Merger Deal: Under the deal, each Aphria shareholder received 0.8381 of a Tilray share for each Aphria common share held on April 30. The resulting company, which is expected to generate roughly $81 million in annual pre-tax cost synergies within the next eighteen months, kept the Tilray name and will continue to trade on Nasdaq Global Select Exchange under the ticker symbol TLRY. ....
Tilray, Inc. (NASDAQ: TLRY) and Aphria, Inc. (NASDAQ:APHA) have merged after months of negotiations, creating a company with a combined market cap of $3.3 billion. The two Canadian cannabis giants had been in talks since December with Aphria’s current CEO Irwin Simon to create a new enterprise. In April, Aphria shareholders finally voted in favor of the merger. Tilray shareholders followed suit and approved the transaction on Friday. The Merger Deal: Under the deal, each Aphria shareholder received 0.8381 of a Tilray share for each Aphria common share held on April 30. The resulting company, which is expected to generate roughly $81 million in annual pre-tax cost synergies within the next eighteen months, kept the Tilray name and will continue to trade on Nasdaq Global Select Exchange under the ticker symbol TLRY. ....