Aphria and Tilray have agreed to merge in a deal that forms the world’s largest cannabis company, reported Bloomberg.
The all-stock deal will create a company valued at about CA$5 billion (US$3.9 billion) that generated CA$685 million of sales over the past year, making it larger than all other companies in the global cannabis industry.
“By leveraging our combined strengths and capabilities, we expect to be able to meet the needs of consumers more effectively all over the world and advance patient care,” Tilray CEO Brendan Kennedy said in a statement.
The new company, which will use the name Tilary and trade on the Nasdaq under the ticker TLRY, will have a portfolio of branded products in Canada and will pursue medical opportunities in Europe.
Tilray will also have a packaged goods presence in the US through its cannabis lifestyle craft brewer SweetWater Brewing and Manitoba Harvest, a CBD and wellness product manufacturer.
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