Aurora Cannabis pops nearly 14% after billionaire activist investor Nelson Peltz joins as an advisor
Aurora Cannabis announced Wednesday that it has appointed longtime activist investor Nelson Peltz as a strategic advisor.
Peltz will "work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora's contemplated market segments," Aurora said in a press release.
Aurora shares closed up 13.94 percent Wednesday following the release, its best day of trading since September. The company added that it has granted Peltz options to purchase 19.96 million common Aurora shares at a price of 10.34 Canadian dollars ($7.74). If he exercised the options, he would be the company's second-largest shareholder.VIDEO 5:28 05:28 Fast Money
"I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals," Peltz said in the release.
"I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model."Employees tend to marijuana plants at the Aurora Cannabis Inc. facility in Edmonton, Alberta, Canada, on Tuesday, March 6, 2018. Aurora CEO Terry Booth and his business partner Steve Dobler are the largest individual holders of Canada ' s second-largest marijuana firm, with a combined stake approaching C$200 million. Jason Franson | Bloomberg | Getty Images Related Tags
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