Aurora Cannabis shares higher after Peltz comes aboard

Galtero Lara
Марта 14, 2019

"Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the global cannabis industry", Peltz said in a statement.

Aurora Cannabis' stock surged almost 14% Wednesday after the company said that Nelson Peltz, a billionaire activist investor and a founding partner of hedge-fund Trian Fund Management, would become a strategic investor and advisor at the company. The stock had been as high as $12.33 in earlier trading. Aurora's tone seemed welcoming of Peltz's involvement, saying it 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".

He has served as the CEO and chairman of Triarc Companies, which owned Arby's and Snapple, and has been on several company boards.

"Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many verticals of great interest to us", Aurora Chief Executive Officer Terry Booth said in the statement.

Peltz said Aurora has a "solid execution track record" and is poised to go to the "next level" across a range of industry verticals. "I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the worldwide cannabis industry as regulations evolve, with a strong, globally replicable operating model".

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Cowen analyst Vivien Azer said Peltz will open doors for Aurora.

Jeffries analyst Owen Bennett said in a research note that Peltz's involvement with Aurora could help bring financial discipline to the company as it manages its future growth.

Looking Ahead: While Aurora's done well at producing cannabis, it has lagged peers in nabbing deals with big-name partners in the food and beverage industries. "Rather, Peltz brings a network of relationships with large potential strategic companies that ACB could partner with across medical and consumer applications". "We look for ACB to be more methodical and patient in partnership selection than its Canadian peers", she wrote in a research note.

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