Report: Tilray and Aphria in "Advanced" Merger Talks; Announcement Could Come This Week
Two notable names in the cannabis industry might be combining their businesses. According to a report published after market hours Tuesday by Bloomberg that cited "sources familiar with the matter," Tilray (NASDAQ: TLRY) and Aphria (NASDAQ: APHA) are in "advanced talks" to merge. An announcement on such a deal could come as soon as this week, those sources said.
The report says the merged company will likely use the Tilray name, but be led by current Aphria CEO Irwin Simon. Additionally, Aphria will likely hold a majority of seats on the new entity's board of directors, as present shareholders should own a stake of 60%.
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Source Fool.com
