Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Tilray And Aphria Merger Closes

By ValueWalk (Michelle Jones )Stock MarketsMay 05, 2021 01:26AM ET
Tilray And Aphria Merger Closes
By ValueWalk (Michelle Jones )   |  May 05, 2021 01:26AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Tilray's (NASDAQ:TLRY) merger with Aphria (NASDAQ:APHA) has officially closed, creating the largest weed company in the world based on revenue. The combined company will operate as Tilray, and the two firms expect it to generate $81 million in pretax cost synergies within 18 months.

Tilray closes merger with Aphria

Aphria Chairman and CEO Irwin Simon will lead the combined company and has appointed a new executive leadership team. The company has also appointed new board members and directors. Tilray CEO Brendan Kennedy joins the board.

Tilray shares will continue to trade on the NASDAQ under the symbol "TLRY" after the merger and start trading on the Toronto Stock Exchange under the symbol "TLRY" tomorrow. As of the end of April, the combined company had a market capitalization of about $8.2 billion based on the closing stock prices.

As announced previously, every Aphria shareholder will receive 0.8381 of a Tilray share tomorrow. Investors who held shares of Tilray before the transaction was completed will continue to hold their shares without any adjustment after it closes. Tilray shareholders voted in favor of the deal on Friday.

After the merger

Simon said in a press release that their focus now turns to executing on their "highest return priorities, including business integration and accelerating our global growth strategy." He noted that the COVID-related lockdowns presented unique challenges in Canada and Germany, but as those markets reopen, Tilray is ready to transform the industry.

He said the company's footprint is highly scalable, and its diverse portfolio contains medical and adult-use recreational cannabis brands and products. Tilray also has a multi-content distribution network and a strong capital structure to fund its global expansion strategy.

The combined company will have a new logo that combines Tilray's and Aphria's branding into a "design that reflects the new Company's growing portfolio of brands across cannabis-lifestyle and wellness product categories."

Tilray set to release earnings

Tilray is scheduled to release its first-quarter earnings results later this month. In the fourth quarter, it grew its revenue by 20.5% year over year to $56.6 million, driven by growth across its core businesses. Cannabis segment revenues rose 46% on the back of an acceleration in international medical sales, which were up 191%. Adult-use cannabis sales in Canada also drove the revenue increase, and medical sales in Canada jumped 26%.

Tilray stock slipped 4% in early trading on the NASDAQ after the merger was announced, while Aphria declined by nearly 5%.

Original Post

Tilray And Aphria Merger Closes

Related Articles

Matthew Weller
Tesla: What Chip Shortage? By Matthew Weller - Jul 23, 2021

While other space-obsessed billionaires are blasting off into space, Elon Musk is more focused on earthbound transportation concerns. After the stock of his ballyhooed electronic...

Tilray And Aphria Merger Closes

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email