Canadian cannabis companies Aphria and Tilray on Wednesday announced plans to merge, a transaction that would create a giant international marijuana firm with combined equity value of approximately 5 billion Canadian dollars ($3.9 billion).
The merged company would be the “world’s largest global cannabis company” based on pro forma revenue of CA$874 million over the past 12 months, the companies said in a joint news release.
Under the merger, the combined company would operate under the Tilray name, with head offices in the United States, Canada, Portugal and Germany.
In addition to competing in Canada’s recreational marijuana market, Aphria and Tilray said the new company would be “well-positioned” to pursue European growth opportunities, building on Aphria’s German assets and Tilray’s Portugal production facility.
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