In May 2018, Aurora Cannabis was acquiring rival cannabis producer, MedReleaf in a $3.2 billion all-stock transaction, which, at the time, was the largest in the still-nascent cannabis industry. Aurora had a track record of being highly acquisitive in an industry with few established financial metrics and had to make a compelling case to the market as to why the acquisition was accretive and made strategic sense.
How National helped
In addition to full logistical and media relations support for the day-of announcement at the TSX, National provided strategic advice and messaging support to Aurora on how to position the transaction to the market and media, working closely with Aurora’s legal and investment banking partners on the deal. The acquisition was well-received by the financial community and Aurora became one of the leading cannabis companies by market capitalization in Canada.