December 28, 2018 / 12:03 PM / 10 months ago

BUZZ-U.S.-listed shares of Aphria jump as Green Growth to launch hostile bid

** U.S.-listed shares of Canadian pot producer jump ~20 pct to $6.66 premarket

** U.S. cannabis retailer Green Growth Brands Ltd said on Thursday it would make a hostile takeover bid for Aphria in an all-stock deal valuing company at $2.06 bln (C$2.8 bln)

** Green Growth plans to offer 1.5714 shares for each Aphria share, representing a premium of 45.5 pct to Aphria’s closing price on the Toronto Stock Exchange on Dec. 24

** APHA has a market value of $1.39 bln (C$1.90 bln), as per Refinitiv data

** As of Thursday’s close, U.S. and Canadian-listed shares of Aphria have more than halved this year (Reporting by Shreyashi Sanyal in Bengaluru)

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