01/24/2018 03:15 EST | Updated 01/24/2018 03:20 EST

NewsAlert: Aurora Cannabis to buy CanniMed Therapeutics in deal valued at $1.1B

EDMONTON — Aurora Cannabis Inc. has struck a friendly deal valued at $1.1 billion to buy CanniMed Therapeutics Inc.

The agreement ends a hostile takeover battle between the marijuana companies.

The deal also means CanniMed will abandon its plans to acquire Newstrike Resources Ltd.

More coming.




Companies in this story: (TSX:CMD, TSX:ACB, TSXV:HIP)