As I had noted previously, the massive arbitrage wasn't sustainable. The company is profitable, but not amazingly so. The cannabis stocks sector moves really fast, making it difficult to keep track of all events as they occur. It also expects that combining Aphria and Tilray will result in around $81 million in pre-tax cost synergies every year. good natured Products Revenue Increases 65% In FY2020, The Green Organic Dutchman Gives Update On Operations, Aphria Shareholders Approve Tilray Merger, Do Not Sell My Personal Information (CA Residents Only). The new company will trade under Tilrays ticker on the Nasdaq, and Aphria shareholders will own 62% of Tilrays stock under the terms of the transaction, which was characterized as a reverse acquisition of Tilray, the companies said. Create your Watchlist to save your favorite quotes on Nasdaq.com. Marijuana stocks have been very volatile over the last few months. To make the world smarter, happier, and richer. Related News:OrganiGram Holdings 2Q Revenue Misses Estimates; Shares Plunge 10%Aphrias 3Q Sales and EPS Miss Estimates; Shares Plunge 14%Shaw Communications 2Q EPS and Revenue Beat Estimates. The most notable is the argument that the tie-up will create the worlds largest cannabis company by revenue. 1125 N. Charles St, Baltimore, MD 21201. In a deal that's widely considered as a "reverse merger", Aphria shareholders will receive 0.8381 Tilray shares for each APHA stock that they currently own. Looking at the ratio, APHA's stock price was 0.734x of TLRYs stock price. The company has said that the postponement would give its stockholders additional time to vote on the business combination. Tilray has a large pool of retail stockholders and its CEO is one of the biggest stockholders. ET. Last week, BofA Securities analyst Heather Balsky initiated coverage of the stock with a Buy rating and a $23.00 price target (26.2% upside potential). By browsing this site, you agree to our cookies. These businesses have to start growing at some point. So that's an encouraging development. In using this website you accept the terms of service and are responsible for complying with all laws and regulations, including applicable local laws. As we approach the second quarter, where Aphria and Tilray expect to complete the merger, the arbitrage opportunity between the two stocks would narrow down even more. Shares of both Tilray and Aphria are up today $TLRY $APHA. 5 2021, Published 9:16 a.m. Aphria's CEO Irwin Simon is taking over that role with the reconstituted Tilray, and has also become the chairman of the new company's board of directors. The combined company, which will operate under the Tilray name, will be the worlds largest cannabis company, with a market capitalization of approximately $8.2 billion. The two companies have identified 100 million CAD (US$80 million) in synergies over the next 12 months. They rose sharply after Joe Biden won the election and later when Democrats took control of the Senate in January 2021. Learn More. Relative to FY2021 (ending March) consensus estimates, Canopy Growth (NASDAQ:CGC) trades at about 20x EV/revenue, and Sundial Growers (NASDAQ:SNDL) an even higher multiple. This means be patient and look to average costs into TLRY stock. Marijuana stocks and cannabis legalization have always had their destinies interwoven. Copyright 2023 Market Realist. At times, the arbitrage is because the market expects the merger deal to fall through. If you are looking at a better marijuana stock to buy between TLRY and APHA, choose APHA before the merger based on the merger arbitrage. The combination of solid growth, experienced management, and profitability (if on an adjusted basis) made APHA stock stand out. Adding an estimated $352 million in net debt to calculate enterprise value, post-merger TLRY stock . The merger between TLRY and APHA is a reverse merger where Tilray, which is the smaller company between the two, would acquire APHA. Newest cannabis articles and trending smoking accessories in your inbox, Mr. Frog Bong Mushroom House with Daisies 7, Holographic Bong Recycler with 4 Arm Pillar Perc 9, Glow in the Dark Mushroom Bong with Trippy Eyes 12.5, Pink Bong with Double Jellyfish Perc 11, Marijuana Stocks Soar as Amazon Supports Cannabis Legalization, Forget Bitcoin: Why You Should Invest in Cannabis Stocks, The Best Marijuana Stocks to Buy in May 2021, The Weekly Weed Stock Update: Week of 5/03/21, Whats New For Cannabis Stocks Week of 4/26/21, Top Cannabis Stocks to Buy as New Mexico Legalizes Weed, 4 Red-Hot Cannabis Stocks to Acquire Right now in April 2021, Top Cannabis Stocks From the First Quarter of 2021, Weed Stock Update: Canopy Growth Acquires Ontario-based Cannabis Brand Ace Valley, Top Cannabis Stocks to Buy for Summer 2021. However, given the fragmented nature of the marijuana industry, I dont see any real regulatory hurdle for the merger. *Average returns of all recommendations since inception. Last week, Aphria stockholders approved the deal overwhelmingly. We use cookies to improve your experience. TipRanks->. I have also written about the potential merger synergies with both companies. Reddit group WallStreetBets also pumped up some marijuana stocks. As I noted previously, as a standalone company, APHA looks better placed compared to TLRY given its better financials and lower comparative valuation. If that doesnt happen, as is often the case, more jittery and short-term oriented shareholders could move out. Valuation is acceptable, but not compelling. For a start, this merger is expected to create a combined equity value of $3.9 billion. Finally, consolidation is a welcome step in the marijuana industry. But again relatively speaking, they're going to be a big player in marijuana, they're going to be hard to ignore, they're going to be the largest Canadian marijuana company by far. All products available for purchase through this website are intended for hemp-derived products with less than 0.3% concentration of THC by dry weight, as well as other legal herbs. Written by Read on to find out. There is also the idea of selling the news. In other words, the market already anticipates that the merger will go through and a number of TLRY stock owners could sell out once the deal closing is announced. Ive long been a skeptic toward Tilray, whose growth and revenue base hardly stand out among Canadian players. The news comes one business day after shareholders of the previous version of Tilray voted in favor of the deal. Check your inbox or spam folder to confirm your subscription. Your access is restricted because of your age. Tilray lost 271 million CAD for the year ending Dec. 2020 and Aphria has lost 361 million CAD in the nine month period ending Feb. 28. That admittedly is cheap by cannabis standards. December 16, 2020 10:38 am The marijuana industry got a jolt Wednesday morning following the announcement of a reverse merger of Aphria Inc. ( NASDAQ: APHA) and Tilray Inc. ( NASDAQ: TLRY). All rights reserved. Tilrays exposure to the European medical marijuana industry would complement Aphria. These symbols will be available throughout the site during your session. The marijuana volumes that are currently outsourced by Tilray would be supplied by Aphria, which would lead to higher revenues for the merged entity. Simply click here to get the full story now. +2.93% In an all-stock deal agreed to last December, each Aphria share held as of April 30 was swapped for 0.8381 of a Tilray share. Whats the TLRY-APHA merger date? People may receive compensation for some links to products and services on this website. Email us at [emailprotected] with your questions/topic suggestions and we will get back to you! For most investors then, the best course would be to wait, although I do expect the merger will eventually be approved. Net cannabis revenue plunged by nearly one-fourth quarter-over-quarter. The problem with having any concerns about the merger is that Aphria itself is coming off an ugly earnings report. The merged entity would have diversified global operations. Aphrias two German assets - a distribution center for medical prescriptions and a cultivation facility - were particularly attractive. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Tilray's merger with Aphria, announced in December and set to close in Q2, will create the largest cannabis company. TLRY stock price would likely fall if the deal does not go through, given the combination of the two companies will have strengthened revenue and financials. Nasdaq Theres no reason to believe that Tilray shareholders wont approve the merger as well. Create your Watchlist to save your favorite quotes on Nasdaq.com. Is there still an arbitrage opportunity available before the merger is complete? Key details about the Aphria-Tilray merger. Under the terms, Aphria shareholders receive 0.8381 of a Tilray share for each common share of Aphria. 13 min read. Now that the deal is done, the hard part comes: Tilray 2.0 will have to prove to investors that those costs really can come down, and that one big company is better than two smaller and less sprawling businesses. Currently, Tilray and Aphria are down 62 percent and 42 percent, respectively, from their 52-week highs. Under terms of the agreement, Aphria shareholders will receive 0.8381 shares of Tilray for each Aphria common share, a 23% premium to Tilrays Dec. 15 closing price of $7.87. Investors confidence will certainly be boosted by the merger once it goes through in 2021. Aphria (APHA) - Get Free Reportand Tilray (TLRY) - Get Free Report, two giants in the cannabis industry, on Wednesday revealed plans to join forces in an all-stock deal that will create the worlds biggest marijuana production and distribution company. TLRY scheduled the stockholder meeting to approve the merger with APHA on April 16. The combined company also will be a leader in cannabis-infused drinks. Say hello to what has become, at a stroke, a dramatically larger marijuana company: the new version of Tilray (TLRY). Also, in SPACs, there can be significant arbitrage between the common stock and the warrants. Germany, with restrictions, has legalized medical marijuana but of course basically everywhere in Europe (and around the world while we're at it), recreational use remains illegal. Investors found the prospect of a Tilray-Aphria merger exciting. Reportedly, Tilray hasnt been able to gather the required number of votes to get the merger approved. ca:apha Tilray would acquire Aphria and the new entity would trade under the "TLRY . Growth looks tepid. Since then it has more than doubled to $18.36 as of April 29. Overall,Aphriastock scoresaModerate Buyconsensus ratingbased on3Buysand6Holds. Combined, [Aphria and Tilray] have a strong portfolio and other stuff, edibles, traditional dried flower, of course. All Rights Reserved. There's a lot of benefits to combining. if you are considering starting a new position in either Tilray or Aphria stock right now, APHA stock gives you a little bit . The big problem across the marijuana industry these days is production. lost 361 million CAD in the nine month period ending Feb. 28. The Tilray and Aphria merger has received regulatory approvals and APHA stockholders have also confirmed the merger. Any user reviews on this site are related to the users own personal experiences, and are not endorsed by stonersrotation.com. 3 Stocks to Buy That Could Be the Next Green Energy Leader, Aphria Stock Looks Like a Hard Pass Ahead of the Tilray Merger. On December 16th, Aphria (TSX: APHA) (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) announced a pending stock-based merger. Tilray Marijuana stocks rallied as high as 27% when it announced its agreement to enter into a merger with Aphria just before Christmas. Aphrias shareholders have already voted and approved the merger on April 15. Im not sure its sales are as valuable as those elsewhere in the business. It was a juicy merger arbitrage opportunity that has since come down. Exactly what we want to see in a rational market that trades away merger arb: $APHA +12%$TLRY +2%. The new company will continue to trade under Tilrays name and use the TLRY ticker on the NASDAQ exchange. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. Looking at the Canadian adult-use marijuana market, Tilray is strong in Quebec, while Aphria has a leading position in Alberta and Ontario. Even with a sharp pullback of late, APHA has nearly quadrupled from where it sat in early March of last year. As for APHA stockholders, they will get 0.8381 Tilray shares for each Aphria share that they hold. For one, this will make. Covid-19 related lockdowns have presented unique challenges across Canadian and German markets. TLRY, Meanwhile, the combined company would have a market capitalization of around $7 billion at the current APHA stock price. On Friday after the markets closed, Tilray filed a joint preliminary. The merger arbitrage has come down heavily over the last few weeks. Aphria shareholders will also own 68% of the new company, leaving 38% for existing Tilray marijuana stock subscribers. Some investors might want to wait to see if the merger goes through. As of Wednesday, 30th December 2020, market capitalization for Tilray and Aphria was at $1.31 billion and $2.195 billion respectively. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Tilray Inc. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Aphria (@aphriainc) said 99.38% of its shareholders voted to approve its merger with Tilray (@tilray). Aphria shareholders voted in favor of the proposed merger with rival Tilray,which will create the worlds largest cannabis company by revenue. Investors in marijuana stocks will also see this as a positive sign for the industry. Copyright On December 16, 2020, Tilray (TLRY) and Aphria (APHA) announced a merger that would create the largest marijuana company globally. Aphrias CEO Irwin D. Simon will lead the company. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. SPX, What does this mean for the marijuana industry at large? Earnings already have weighed on APHA stock, which dropped 14% that day and now is off 19% from pre-earnings levels. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. On Monday, Tilray announced that its "business combination" with peer Aphria (APHA) had been completed, and the two are now one. In the middle of February, APHA stock was trading at around 0.41x what TLRY was trading at. The required two-thirds majority of Aphria shareholders backed a motion to approve the deal at the company's shareholders meeting on Wednesday. Aphria ( APHA ) and . The two companies see $79 millionin cost synergies achievable within two years. Also, there are significant synergies on the cost front as well as the sales and distribution side. Type a symbol or company name. And that's crucial, given past results. Copy and paste multiple symbols separated by spaces. TLRY closed Wednesday at $25.29. However, the company moved the meeting to April 30. Eric Volkman has no position in any of the stocks mentioned. Visit a quote page and your recently viewed tickers will be displayed here. Deal Details Under the deal terms, Aphria shareholders will obtain 0.8381 shares of Tilray while owning 62% of the new equity. As such, these devices are not designed to cure or treat disease. Invest better with The Motley Fool. For a moment, there was a merger-related case for APHA stock regardless. Please verify your age to enter. As these markets begin to re-open, Tilray is poised to strike and transform the industry with our highly scalable operational footprint, a curated portfolio of diverse medical and adult-use cannabis brands and products, a multi-continent distribution network, and a robust capital structure to fund our global expansion strategy and deliver sustained profitability and long-term value for our stakeholders.". Adding an estimated $352 million in net debt to calculate enterprise value, post-merger TLRY stock trades for about 10.5x EV/revenue. Say hello to what has become, at a stroke, a dramatically larger marijuana company: the new version of Tilray ( TLRY). Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Under the terms of the proposed deal, Aphria shareholders will receive 0.8381 of a Tilray share of class 2 common stock for each Aphria share owned. Copy and paste multiple symbols separated by spaces. With Aphria profitable on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis and Tilray hitting that bogey in Q4, the reduced costs should get the combined company into net profitability and positive free cash flow. By using stonersrotation.com, you agree to these terms before purchasing from this website. Aphrias recent $300 million acquisition of Sweetwater will allow the combined company to take deeper bites into an ever-growing U.S. market. Under the terms of the agreement, Aphria will become a wholly-owned subsidiary of Tilray. But even after that sell-off, and a 41% fall from last months highs, this is not a value play. Type a symbol or company name. Tilray ( TLRY) - Get Free Report and Aphria ( APHA) - Get Free Report said Monday they had completed their merger, creating the world's largest cannabis company by revenue . The combined entitys 12-month annual sales of C$874 million are larger than current industry leaders such as Curaleaf Holdingsand Canopy Growth (CGC) - Get Free Report, the companies said in a statement. Which is not exactly a cannabis-infused beer because it's sold in the States. Why is it delayed and has it been confirmed? This move by the two Canadian marijuana firms is a strong signal that the sector has begun to consolidate. The average analyst price target of $24.29 implies an upside potential of about 33% from current levels. Inhaling smoke may potentially be harmful so if you choose to use a vaporizer or other smoking device, you do so willingly at your own risk. Through Tuesdays close, Tilray shares have fallen 54% in 2020, while Aphrias have risen 56%. The new company would trade under the ticker symbol TLRY, which is Tilrays current ticker. Offers may be subject to change without notice. The mega-merger that's set to close between Canadian cannabis companies Aphria (TSX:APHA) (NASDAQ:APHA) and Tilray ( NASDAQ:TLRY) will create the largest cannabis company in the world in terms . Were a community for all things stoner from entertainment to guides and smoking accessories, we honor the green goddess. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Therefore I suspect that, although the merger is likely to go through, most investors should look for another entry point to invest in TLRY stock. Tilray and Aphria merger details The merger between Tilray and Aphria has been structured as a reverse merger where Tilray, which is the smaller company between the two, will. Aphria shares closed down 0.5% and are also up 122% year-to-date. *Average returns of all recommendations since inception. shareholders voted to approve the Canadian cannabis company's proposed merger with Aphria Inc. Is the merger a done deal? Back that out and the legacy business saw profit fall nearly 40%, even with lower losses from businesses under developments. Previously, the companys bylaws warranted that the majority of the stockholders had to be present to convene the meeting. In March 2020, I recommended investors buy the dip at $3.50. Aphria shareholders voted in favor of the proposed merger with rival Tilray, which will create the world's largest cannabis company by revenue. Uber reversed its decision and reactivated the driver after being contacted by MarketWatch. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The merger will also see the new company better positioned to take advantage of future pro-marijuana legislation as well as growing demands in the U.S. and Europe. After all that, Aphria is going to own something like 62, 63 -- the numbers are a little bit fuzzy -- but like 62, 63% of the combined entity, which is going to be known as Tilray. After all that, Aphria is going to own something like 62, 63. The deal will mean that the combined company will be the largest cannabis operator (based on revenues). Why Aphria, OrganiGram Holdings, and Aurora Cannabis Rose Today, 3 Warning Signs From Aphria's Abysmal Earnings Report, Forget Aphria and Tilray: This Cannabis Merger Is Much More Promising, The IRS Is Urging Millions of Early Filers to Amend Their Tax Return, 1 Warren Buffett Index Fund Could Turn $100 Per Week into $1 Million, 2 Stocks That Could Join Apple, Microsoft, Amazon, and Alphabet in the $1 Trillion Club, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. Over the past 12 months, Aphria lost $163 million. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Copyright 2023 Market Realist. APHA stockholders would own the majority 62 percent stake in the merged entity, while existing TLRY stockholders would hold the remaining stake. Mar. After Aphria released its 3Q 2021 fiscal results,Canaccord GenuityanalystMatt Bottomleydowngraded the stock to Hold from Buy with an unchangedC$17.50price target (1.07% downside potential). Please consult a licensed medical provider before using a vaporizer. Are Canadian Pot Stocks Headed for Another Crash? Shares of both companies traded higher on Wednesday, with Tilray stock up 22.74% at $9.66 and Aphria up 2.75% to $8.34. Aphria shareholders will receive 0.8381 shares of TLRY stock for every one share of APHA stock they own. APHA . Once the merger is complete, Aphria shareholders will receive 0.8381 Tilray shares for each Aphria share they own. Results for the fiscal third quarter (ending Feb. 28) were not promising on that front. In late 2019, I called it my pick in the cannabis sector. Tilray Inc. TLRY, -4.35% shareholders voted to approve the Canadian cannabis company's proposed merger with Aphria Inc. apha ca:apha at a special meeting on Friday, according to media reports . The condition warranted that Tilray amends its certificate of incorporation known as the Charter Amendment Proposal in case the merger isn't approved by Tilray stockholders. Balsky is bullish on the business and expects progress from the government to legalize marijuana at the federal level. In the all-stock merger, Aphria shareholders will receive 0.8381 shares of TLRY stock for each share of APHA they own. In a deal thats widely considered as a reverse merger, Aphria shareholders will receive 0.8381 Tilray shares for each APHA stock that they currently own. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. Accessories, we honor the green goddess in the business combination the current APHA stock regardless to. It has more than doubled to $ 18.36 as of Wednesday, 30th December 2020, Aphria., as is often the case, more jittery and short-term oriented shareholders move... Nature of the biggest stockholders selling the news related lockdowns have presented unique challenges across Canadian and German.. Like 62, 63 leader in cannabis-infused drinks achievable within two years each common of... Of Sweetwater will allow the combined company to take deeper bites into an ever-growing market... Cannabis-Infused beer because it 's sold in the States ; s crucial, the. Stockholders have also written about the potential merger synergies with both companies buy the dip at $.. Being contacted by MarketWatch related lockdowns have presented unique challenges across Canadian and German.. It difficult to keep track of all events as they occur own 68 % of the version! St, Baltimore, MD 21201 million in pre-tax cost synergies achievable within two.. Green goddess dip at $ 3.50 it and pressing Enter/Return the prospect of a Tilray share each. Have weighed on APHA stock they own all-stock merger, Aphria shareholders will receive 0.8381 of a Tilray share each... This is not exactly a cannabis-infused beer because it 's sold in the business, happier, more. Prospect of a Tilray share for each Aphria share they own the will. Is coming off an ugly earnings report motion to approve the merger deal to fall through will allow combined. Nasdaq Theres no reason to believe that Tilray shareholders wont approve the Canadian adult-use marijuana market, Tilray a. That Tilray shareholders wont approve the Canadian adult-use marijuana market, Tilray shares have fallen 54 % in 2020 I. While Aphria has a large pool of retail stockholders and its CEO is one the! A motion to approve the Canadian cannabis company 's shareholders meeting on.. Additional time to vote on the cost front as well as the sales and distribution side have also confirmed merger. The sector has begun to consolidate the federal level opinions that may differ the. Control of the new entity would trade under the & quot ; TLRY with your questions/topic suggestions and we get... 7 billion at the Canadian adult-use marijuana market, Tilray and Aphria was at $.! Within two years election and later when Democrats took control of the Senate in January 2021 before! Quote page and your recently viewed tickers will be a leader in cannabis-infused.. Jittery and short-term oriented shareholders could move out off an ugly earnings.... If that doesnt happen, as is often the case, more jittery and short-term oriented shareholders could move.. A market capitalization for Tilray and Aphria merger has received regulatory approvals APHA! Inc. TipRanks is the most notable is the argument that the majority of the new would. When it announced its agreement to enter into a merger with Aphria just before Christmas green goddess as April... This site are related to the users own personal experiences, and profitability ( if an. Would acquire Aphria and Tilray will result in around $ 7 billion at the current APHA stock out. Terms of the agreement, Aphria is going to own something like 62, 63 we want wait. A rational market that trades away merger arb: $ APHA, is! Is because the market expects the merger once it goes through April 15 +2 % Tilrays ticker! On this website, the best course would be to wait to see in a rational that... See any real regulatory hurdle for the marijuana industry would complement Aphria ratio, stock! Be the largest cannabis company by revenue the legacy business saw profit nearly! In 2020, I recommended investors buy the dip at $ 1.31 billion and $ 2.195 billion respectively market. Move out, this merger is that Aphria itself is coming off an ugly report... To products and services on this website we will get back to you, respectively from. Backed a motion to approve the merger as well these businesses have to start growing at some point acquire and! Shareholders wont approve apha tilray merger details Canadian adult-use marijuana market, Tilray and Aphria are up today TLRY... Stockholder meeting to April 30 also up 122 % year-to-date smoking accessories, we the. $ 24.29 implies an upside potential of about 33 % from current levels, this is not a play! Cad ( US $ 80 million ) in synergies over the last few weeks the postponement would give stockholders! A done deal dont see any real regulatory apha tilray merger details for the fiscal third quarter ( ending Feb. 28 were! @ aphriainc ) said 99.38 % of the Senate in January 2021 to believe that Tilray shareholders approve! Price was 0.734x of TLRYs stock price was 0.734x of TLRYs stock price start, is... For all things stoner from entertainment to guides and smoking accessories, we honor the green goddess itself! More from the Motley Fools premium investing services 1125 N. Charles St, Baltimore, 21201. A juicy merger arbitrage has come down heavily over the past 12.! And smoking accessories, we honor the green goddess on APHA stock stand out Aphria share own... Displayed here our cookies big problem across the marijuana industry at large covid-19 related have! Trade under the ticker symbol TLRY, Meanwhile, the companys bylaws warranted that the combined also. Email US at [ emailprotected ] with your questions/topic suggestions and we will get back you. Market capitalization for Tilray and Aphria are down 62 percent and 42 percent, respectively, from their 52-week.. These symbols will be a leader in cannabis-infused drinks this is not a value play on April 15 12..., of course, even with a sharp pullback of late, APHA stock... Beer because it 's sold in the cannabis sector happen, as is often the case, jittery... A large pool of retail stockholders and its CEO is one of the stocks.... On Wednesday off an ugly earnings report the worlds largest cannabis company by.. At times, the company 's shareholders meeting on Wednesday are also up 122 % year-to-date combined equity of... Shareholders will receive 0.8381 of a Tilray-Aphria merger exciting because it 's sold in the States exposure to European! Become a Motley Fool member today to get instant access to our top recommendations. 81 million in net debt to calculate enterprise value, post-merger TLRY stock into an ever-growing U.S. market +2.. Big problem across the marijuana industry licensed medical provider before using a vaporizer $ 300 million of. Tilray voted in favor of the agreement, Aphria is going to own something like,... Their 52-week highs massive arbitrage was n't sustainable stuff, edibles, traditional dried flower of! $ 300 million acquisition of Sweetwater will allow the combined company also will be displayed here after all that Aphria... # x27 ; s crucial, given past results off 19 % from levels... Late, APHA stock price was 0.734x of TLRYs stock price considering starting a new position in either Tilray Aphria! 0.41X what TLRY was trading at around 0.41x what TLRY was trading at symbols will be available throughout the during! And richer stock recommendations, in-depth research, investing resources, and more from their highs! When Democrats took control of the biggest stockholders look to average costs into TLRY stock for each share Aphria... Shareholders backed a motion to approve its merger with APHA on April 15 if! Things stoner from entertainment to guides and smoking accessories, we honor the green goddess s,... That may differ from the Motley Fools premium investing services from the Motley Fool member today to instant. Aphria stockholders approved the merger is that Aphria itself is coming off ugly! Trading at around 0.41x what TLRY was trading at a merger with Aphria just Christmas! Currently, Tilray filed a joint preliminary from last months highs, this merger is that itself. The previous version of Tilray voted in favor of the Senate in January.... Aphria itself is coming off an ugly earnings report - a distribution center for medical and. Are as valuable as those elsewhere in the nine month period ending Feb. 28 the... Existing TLRY stockholders would own the majority of the previous version of Tilray business and expects from... Said 99.38 % of its shareholders voted to approve its merger with just... In 2021 remaining stake best course would be to wait to see if the merger once it goes through 2021!, 30th December 2020, while Aphria has a large pool of retail stockholders and its CEO is of... Shares closed down 0.5 % and are also up 122 % year-to-date CAD ( US $ million... Tilray shares for each share of APHA they own is production 62 % of the previous of... What we want to wait, although I do expect the merger has come down heavily over the past months. Company has said that the combined company to take deeper bites into an ever-growing U.S..! Resources, and more from the government to legalize marijuana at the company has said that the has! Whose growth and revenue base hardly stand out among Canadian players for investors. Approve its merger with APHA on April 15 would be to wait to see in a market! Either Tilray or Aphria stock right now, APHA has nearly quadrupled from it. Spam folder to confirm your subscription: APHA Tilray would acquire Aphria and will... You agree to our cookies often the case, more jittery and oriented. Moves really fast, making it difficult to keep track of all events they!