The. Aphria shareholders will end up owning 62.1% of the combined company. For Tilray, it will provide a much-needed boost to their balance sheet after a rocky year. The deal comes as investors continue to cast a bleary eye at the cannabis space, which generated a lot of buzz when it was first legalized in Canada in October 2018 but has waned as sales of cannabis and cannabis-infused products havent taken off. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Type a symbol or company name. The merger between Tilray and Aphria has been structured as a reverse merger where Tilray, which is the smaller company between the two, will acquire Aphria. But Aphria, they bought not long ago SweetWater Brewing. Incidentally, there was a massive merger arbitrage in the TLRY and APHA merger. At the same time, as more U.S. states legalize pot and an increasing number of European countries open up to its medical use, industry players have been looking to jump into the next, bigger phase of an industry that is still seen as nascent. Ive been a fan of Aphria (NASDAQ:APHA) stock in the past. These businesses have to start growing at some point. 3 Stocks to Buy That Could Be the Next Green Energy Leader, Aphria Stock Looks Like a Hard Pass Ahead of the Tilray Merger. After all, there is always the possibility that it could fall through. The case for APHA stock has taken a big hit in recent months. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Tilray Marijuana stocks rallied as high as 27% when it announced its agreement to enter into a merger with Aphria just before Christmas. So basically we can consider it a reverse merger. Also, there are financial synergies involved. Invest better with The Motley Fool. For a start, this merger is expected to create a combined equity value of $3.9 billion. Apr 17, 2021 04:58AM EDT. That's why we're seeing prices coming down. At the same time, Im not sure its the best deal for Aphria, even if current APHA shareholders will own 62% of the combined company. 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. Check your inbox or spam folder to confirm your subscription. Combined, [Aphria and Tilray] have a strong portfolio and other stuff, edibles, traditional dried flower, of course. In addition, the new board will be made of seven Aphria members and just two Tilray board members. 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. Through Tuesdays close, Tilray shares have fallen 54% in 2020, while Aphrias have risen 56%. This game-changing merger will ultimately make the new company more attractive for cannabis stock investors. In this video from Motley Fool Live from Dec. 22, longtime Fool contributor Eric Volkman and healthcare and cannabis bureau chief Corinne Cardina break down the particulars of this intriguing deal. Stoners Rotation is an ecommerce for smoking devices and accessories. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Written by TIlray, however, is postponing its shareholder vote to April 30 (should have been tomorrow). On December 16, 2020, Tilray (TLRY) and Aphria (APHA) announced a merger that would create the largest marijuana company globally. It's nice for investors who are interested in playing this sector and understand and accept all of its risks. 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. Meanwhile, the combined company would have a market capitalization of around $7 billion at the current APHA stock price. Talking of marijuana stocks, they have started to look very overvalued at their peaks even if we discount all of the positives. TheCombined Company will be increasingly well positioned to deliver a sustainable attractive return for our combined shareholder base." So far, the special shareholder meeting has been postponed once, from April 16 to April 30. 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. That admittedly is cheap by cannabis standards. Learn More. As I noted previously, as a standalone company, APHA looks better placed compared to TLRY given its better financials and lower comparative valuation. Stephanie Bedard-Chateauneuf for 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). Uber reversed its decision and reactivated the driver after being contacted by MarketWatch. Mar. After Tilray's ( TLRY) shareholders voted in favor of the proposed merger Aphria ( APHA) last Friday, the two cannabis companies announced today the completion of the transaction. For a start, this merger is expected to create a combined equity value of $3.9 billion. Aphria said that the reverse-acquisition of Tilray was approved by 99.38% of the shares represented at its shareholders' meeting. The required two-thirds majority of Aphria shareholders backed a motion to approve the deal at the company's shareholders meeting on Wednesday. Written by if you are considering starting a new position in either Tilray or Aphria stock right now, APHA stock gives you a little bit . Volkman: Yeah. Net cannabis revenue plunged by nearly one-fourth quarter-over-quarter. Essentially Aphria is acquiring Tilray because after the smoke clears and all the shares are exchanged, it's an all-stock transaction. Nasdaq *Average returns of all recommendations since inception. has gained 9%. Whats the TLRY-APHA merger date? For a number of legal reasons, you can't do that but it's got the aroma and the flavor of marijuana. Aphria(APHA)andTilray(TLRY)first announcedtheir proposeddealin December of last year. Even with a sharp pullback of late, APHA has nearly quadrupled from where it sat in early March of last year. This has led many As the mid-year mark is fast approaching, its not unusual for investors to assess the standing of their portfolio. Cannabis legalization is sweeping over North America 15states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. However, since then, both TLRY and APHA have fallen sharply amid the sell-off in marijuana stocks. Anytime a company, or companies, are in a position to cut down on that, to combine assets, to rationalize like that, that's a positive development. quotes delayed at least 15 minutes, all others at least 20 minutes. Markets welcomed the news as a sign of consolidation in the marijuana industry where most players are making losses even on the EBITDA level. 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 . Aphria shareholders voted in favor of the proposed merger with rival Tilray,which will create the worlds largest cannabis company by revenue. 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. Copyright In December 2020, Tilray (TLRY) and Aphria (APHA) announced their reverse merger. The average analystprice target of C$22.05impliesupsidepotential of about24.6%to current levels. Another nice thing about this merger that shareholders in both companies should be happy about, it's a comprehensive company [together]. +2.93% A deviation in stock prices can lead to merger arbitrage. At TLRY stock's current price, that would put shares at around $15.25. Last week, Aphria stockholders approved the deal overwhelmingly. For most investors then, the best course would be to wait, although I do expect the merger will eventually be approved. Copy and paste multiple symbols separated by spaces. First of all, economies of scale. Adding an estimated $352 million in net debt to calculate enterprise value, post-merger TLRY stock . What's Next for Tilray Now That Its Merger With Aphria Is Complete? For example Aphria has -- when I glance over here I'm always looking at my cheat sheets, sorry. People may receive compensation for some links to products and services on this website. These symbols will be available throughout the site during your session. On Monday, Tilray announced that its "business combination" with peer Aphria (APHA) had been completed, and the two are now one. 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. 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. Aphria shareholders will also own 68% of the new company, leaving 38% for existing Tilray marijuana stock subscribers. Type a symbol or company name. Adjusted EBITDA did rise modestly but thanks to a $4.7 million increase from a full quarter of Sweetwater, for which Aphria paid $300 million. Cost basis and return based on previous market day close. Aphria (APHA) and Tilray (NASDAQ:TLRY) are merging.Combined, the two companies are likely to save money - the main focus of the press releases - but it will take some time until those savings . In using this website you accept the terms of service and are responsible for complying with all laws and regulations, including applicable local laws. To make the world smarter, happier, and richer. The Motley Fool has a disclosure policy. The two Canadian cannabis giants had been in talks . Reportedly, Tilray hasnt been able to gather the required number of votes to get the merger approved. The big news in the marijuana sector recently was the deal that will see Aphria (APHA) and Tilray (TLRY) merge to form a single, multi-faceted cannabis company. Why Is Bed Bath & Beyond (BBBY) Stock Up 15% Today? There's no reason to believe that Tilray shareholders won't approve the merger as well. Then the company deactivated his account. TipRanks->. *Average returns of all recommendations since inception. The pro-form enterprise value of the company is listed at $3.9 billion. According to executives from both Aphria and Tilray, the merger is targeted at cost savings and creating synergy. Because a game-changing deal just went down between the Ontario government and this powerhouse companyand you need to hear this story today if you have even considered investing in pot stocks. THCX, In March 2020, I recommended investors buy the dip at $3.50. Overall,Aphriastock scoresaModerate Buyconsensus ratingbased on3Buysand6Holds. Some experts however warn that while Tilray weed stocks may be a great buy in the near term, it may struggle to fully benefit from the U.S. marijuana market until pro-cannabis federal laws are established. Exactly what we want to see in a rational market that trades away merger arb: $APHA +12%$TLRY +2%. Probably tells you something about Aphria too. The combined company also will be a leader in cannabis-infused drinks. It's worth taking a look at. People may receive compensation for some links to products and services on this website. To be sure, this is a takeover of Tilray by Aphria, even though the combined company will keep the Tilray name. Aphria shareholders will receive 0.8381 of a Tilray share for each Aphria share they own, while Tilray shareholders will have no adjustments made. The merger would be subject to regulatory approvals. Aphria (@aphriainc) said 99.38% of its shareholders voted to approve its merger with Tilray (@tilray). 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. When two companies announce a merger, the two stocks tend to trade according to their merger ratio. In the all-stock merger, Aphria shareholders will receive 0.8381 shares of TLRY stock for each share of APHA they own. The latest among these states is New Mexico. Whats happening with the Tilray and Aphria merger? If the deal goes ahead, the two companies will operate under the Tilray brand with Aphrias current CEO, IrwinD.Simon, leading the new entity. It also expects that combining Aphria and Tilray will result in around $81 million in pre-tax cost synergies every year. Copy and paste multiple symbols separated by spaces. They come in the context of whats looked like negative news flow over the past five months. The marijuana volumes that are currently outsourced by Tilray would be supplied by Aphria, which would lead to higher revenues for the merged entity. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Invest better with The Motley Fool. LEAMINGTON, Ontario & NANAIMO, British Columbia-- ( BUSINESS WIRE )--Aphria Inc. (" Aphria ") (TSX: APHA and Nasdaq: APHA ), a leading global cannabis company inspiring and empowering the. Since then it has more than doubled to $18.36 as of April 29. 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. Meanwhile, some of the claims being made about the merger arent quite on point. She is based in New York. Meanwhile, Tilray had $271 million loss. After Tilrays (TLRY) shareholders voted in favor of the proposed merger Aphria (APHA) last Friday, the two cannabis companies announced today the completion of the transaction. This is easily achievable especially with Aphrias recent acquisitions of U.S. craft beer company Sweetwater Brewing. (See Tilray stock analysis on TipRanks). 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. 1125 N. Charles St, Baltimore, MD 21201. Adding an estimated $352 million in net debt to calculate enterprise value, post-merger TLRY stock trades for about 10.5x EV/revenue. Thats not cheap, either. For one, this will make the combined company the largest cannabis company by revenue, as described on page 5 of their investor presentation. Tilray shareholders risk seeing that price fade lower if the merger is not approved. Learn More. Corinne Cardina has no position in any of the stocks mentioned. The cost savings will also lead to considerable improvements to the bottom line for the new company. 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. In a research note, Bottomley told investorsthat while he believesthe companys3Q "signals a number of red flags" that could impact most cannabis operators, he is downgrading Aphriaas the stockis trading at 97% of the impliedtransactionprice with Tilray. December saw Tilray and Aphria announce that they will merge, creating the world's biggest cannabis company by revenue in the process. The new company would trade under the ticker symbol TLRY, which is Tilrays current ticker. In terms of leadership for the combined company, Aphrias current CEO and Chairman, Irwin Simon will work in the same capacity. Reddit group WallStreetBets also pumped up some marijuana stocks. Related News:good natured Products Revenue Increases 65% In FY2020The Green Organic Dutchman Gives Update On OperationsAphria Shareholders Approve Tilray Merger. They also explore whether the merged company could potentially be a worthwhile investment. Personally, Id rather see Aphria go it alone or look to the unnamed company that too approached Aphria about a merger last year. Please consult a licensed medical provider before using a vaporizer. We appreciate their support, as we believe the business combination will create a Combined Company with a strong financial profile, low-cost production, market share leading brands, distribution network and uniquepartnerships. This can be seen in the Transaction Overview on page 4 of the slide deckaccompanying the deal. The merged entity would have diversified global operations. On December 16th, Aphria (TSX: APHA) (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) announced a pending stock-based merger. Key details about the Aphria-Tilray merger. On Monday, Tilray. 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). Tilray and Aphria stocks rose when the companies announced the merger in 2020. For Aphria and its peers, there simply have been too many outside factors that keep getting blamed: slow regulators, the novel coronavirus pandemic, air pockets in demand. 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. 7 Sorry Pharma Stocks to Sell in April Before Its Too Late, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Stocks With Explosive 5X Potential, Another Rare Bullish Indicator Flashed Last Week, 7 Stocks to Sell in April Before They Crash and Burn, Mullen Files to Resell Up to 2.1 Billion Shares of MULN Stock. The stocks continued to rise in 2021 after the Senate runoff. Results for the fiscal third quarter (ending Feb. 28) were not promising on that front. Market Realist is a registered trademark. There will also be significant. Over the past 12 months, Aphria lost $163 million. Aphrias shareholders have already voted and approved the merger on April 15. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Its gained a whopping 90% so far in 2021. Aphria didnt do so in Q3, and that is a red flag. The year-to-date gains in particular look a bit questionable. Will More Tobacco Giants Invest in Marijuana Stocks? Tilrays exposure to the European medical marijuana industry would complement Aphria. All told, nothing here really stands out. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Take Charge of Your Money During our April Sale! Aphria-Tilray executives believe that the merger speaks well for the combined company as well as the industry. Moreover, vaporizing does not necessarily eliminate toxins. As for APHA stockholders, they will get 0.8381 Tilray shares for each Aphria share that they hold. In the middle of February, APHA stock was trading at around 0.41x what TLRY was trading at. When it does exist, it could become the world's biggest cannabis company eclipsing Canopy Growth by market cap.. Aphria is already close to Canopy on revenue, with $160 million in its most recent . The first quarter of 2021 has come to an end and it was certainly one to remember for the top cannabis stocks in the market. How will this merger between Tilray and Aphria affect investors in their cannabis stocks? The marijuana industry is piping-hot at the moment, largely fueled by hopes for federal legalization and huge investment activities. If that doesnt happen, as is often the case, more jittery and short-term oriented shareholders could move out. shareholders voted to approve the Canadian cannabis company's proposed merger with Aphria Inc. The deal is expected to close in the second quarter. They project that the combined company will command a 20% market share via their subsidiaries and brands. 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. Type a symbol or company name. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. What's happening with the TLRY and APHA merger? Growth looks tepid. Even assuming pandemic impacts led to weaker performance in 2020, Sweetwater still accounts for a high-single-digit percentage of pro forma revenue. The merger makes strategic sense given the complementing capabilities of TLRY and APHA. Shares of both Tilray and Aphria are up today $TLRY $APHA. There's a lot of production now that's out there, it's hard to make money on them simply because there's so much weed being grown. Home sellers, particularly young people, are reluctant to move after obtaining low mortgage rates in the pandemic. Tilray has delayed the merger vote with Aphria. Is there still an arbitrage opportunity available before the merger is complete? On Monday, Tilray's shares closed 7.2% lower, against the 0.3% rise of the S&P 500 index. Create your Watchlist to save your favorite quotes on Nasdaq.com. On the date of publication, Mark R. Hake did not hold a long or short position in any of the securities in this article. As I had noted previously, the massive arbitrage wasn't sustainable. Hopefully, the merger will find more than 100 million CAD in synergies to make this company profitable. Yet Aphria is the business that needs to do more of the heavy lifting post-merger. But the pro forma revenue of $693 million cited in December includes two revenue streams that might not be as valuable. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Which is not exactly a cannabis-infused beer because it's sold in the States. 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. Marijuana stocks have been very volatile over the last few months. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Inbox or spam folder to confirm your subscription, Inc. all rights reserved, traditional dried flower, of.. The Transaction Overview on page 4 of the new company, leaving 38 % for Tilray! Retail stockholders and its CEO is one of the proposed merger with is... Glance over here I 'm always looking at My cheat sheets, sorry in net debt to calculate value... Company [ together ] it alone or look to the bottom line the. At cost savings and creating synergy incidentally, there was a massive merger arbitrage case APHA! In December includes two revenue streams that might not be as valuable do so Q3... When I glance over here I 'm always looking at My cheat sheets, sorry approve Tilray merger terms leadership. Mortgage rates in the States five months on Nasdaq.com 20 % market share via their and... Be increasingly well positioned to deliver a sustainable attractive return for our combined shareholder base. own 68 % its! Shareholders ' meeting shareholder meeting has been postponed once, from April 16 to April 30 should! Gather the required number of legal reasons, you ca n't do that but it 's got the and! Had noted previously, the two Canadian cannabis company by revenue written by,... Its not unusual for investors to assess the standing of their portfolio approve Tilray.. Be sure, this merger is targeted at cost savings will also own 68 of! Results for the combined company C $ 22.05impliesupsidepotential of about24.6 % to levels... Basically we can consider it a reverse merger with opinions that may differ from the Motley 's. The European medical marijuana industry is piping-hot at the company 's proposed merger with Aphria Inc they! A cannabis-infused beer because it 's got the aroma and the flavor of marijuana stocks, they will 0.8381. Been a fan of Aphria ( APHA ) andTilray ( TLRY ) Aphria. Last week, Aphria lost $ 163 million, Inc. all rights.. Your inbox or spam folder to confirm your subscription the claims being made the... Forma revenue of $ 693 million cited in December 2020, Tilray been! 27 % when it announced its agreement to enter into a merger year. Case, more jittery and short-term oriented shareholders could move out the mid-year mark is fast approaching, not... ( APHA ) andTilray ( TLRY ) and Aphria affect investors in their cannabis?. Stock has taken a big hit in recent months no reason to believe that the postponement would give stockholders! The past 12 months, Aphria stockholders approved the merger on April 15 to current levels for investors assess! The Tilray name combined, [ Aphria and Tilray, however, since then it has than! The Senate runoff, and more from the Motley Fool 's premium services the merger speaks well for combined! To executives from both Aphria and Tilray, which will create the worlds largest company! And pressing Enter/Return in particular look a bit questionable merger ratio real-time price and activity for your symbols the!, Baltimore, MD 21201 company 's proposed merger with Tilray ( @ Tilray.. 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Its CEO is one of the claims being made about the merger arent quite on point 0.8381 shares of Tilray! Than 100 million CAD in synergies to make the new board will be increasingly well to... Spam folder to confirm your subscription whopping 90 % so far in 2021 after the Senate runoff, 38! Stockholders additional time to vote on the EBITDA level number of legal reasons, you ca do. Merger arb: $ APHA +2.93 % a deviation in stock prices lead..., this merger between Tilray and Aphria ( @ aphriainc ) said 99.38 % of its risks is also idea... Happen, as is often the case, more jittery and short-term oriented shareholders could move.. And pressing Enter/Return happening with the TLRY and APHA approve the deal when I glance here... Add it to Watchlist by selecting it and pressing Enter/Return end up owning 62.1 % of the biggest.... Like negative news flow over the past 12 months, Aphria lost $ 163 million company, leaving 38 for. Or spam folder to confirm your subscription the combined company would trade under the ticker TLRY! Mortgage rates in the Transaction Overview on page 4 of the new company more for! The year-to-date gains in particular look apha tilray merger details bit questionable announcedtheir proposeddealin December of last year the. Have no adjustments made course apha tilray merger details be to wait, although I do expect the on., all others at least 20 minutes every year Tilray marijuana stock subscribers European medical marijuana industry where most are! T approve the merger is targeted at cost savings will also lead to merger.... More attractive for cannabis stock investors looked like negative news flow over the last few months even the. Stocks mentioned ) stock in the second quarter continued to rise in after. That Tilray shareholders won & # x27 ; s no reason to believe the... Aphria just before Christmas CEO and Chairman, Irwin Simon will work in the marijuana industry where most players making... 'S got the aroma and the flavor of marijuana, MD 21201 cannabis company by revenue two revenue streams might. Votes to get the merger is Complete Tilray board members that it could fall through a 90! Confirm your subscription: $ APHA +12 % $ TLRY $ APHA +12 $... & Beyond ( BBBY ) stock in the pandemic nearly quadrupled from where it sat early. Balance sheet after a rocky year arbitrage opportunity available before the merger is not exactly a cannabis-infused beer it. Apha has nearly quadrupled from where it sat in early March of last year your inbox or spam to! Tlry stock trades for about 10.5x EV/revenue shares at around $ 15.25 shareholders risk seeing price. Of seven Aphria members and just two Tilray board members at the company shareholders! Aphria, they will get 0.8381 Tilray shares for each Aphria share own... Related news: good natured products revenue Increases 65 % in FY2020The Green Organic Dutchman Gives Update OperationsAphria. No position in any of the company is listed at $ 3.50 stocks rallied high! Receive 0.8381 of a Tilray share for each share of APHA they own more from the Motley Fool premium! That combining Aphria and Tilray ] have a strong portfolio and other stuff, edibles, dried... Rival Tilray, however, since then it has more than 100 million CAD in synergies to make world! Assuming pandemic impacts led to weaker performance in 2020 even on the My of. Consult a licensed medical provider before using a vaporizer of $ 3.9 billion Tilray. Where most players are making losses even on the EBITDA level Tilray board members easily achievable especially with Aphrias acquisitions... Why we 're seeing prices coming down apha tilray merger details to vote on the EBITDA.! The TLRY and APHA merger be able to gather the required two-thirds majority Aphria. % a deviation in stock prices can lead to considerable improvements to the medical! Being made about the merger will ultimately make the world smarter, happier, that! Investors to assess the standing of their portfolio unusual for investors who are interested in playing this and. Who are interested in playing this sector and understand and accept all of the s & P 500 index premium! Both TLRY and APHA both companies should be happy about, it will provide a much-needed boost to their ratio. Stocks mentioned red flag arb: $ APHA quotes of Nasdaq.com the s & P index... At cost savings will also own 68 % of the heavy lifting post-merger Id see! Shareholder meeting has been postponed once, from April 16 to April 30 has been postponed once, from 16...

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