Green Growth made a takeover bid for Aphria.

Green Growth, an American cannabis retailer, made a takeover bid for Aphria, a Canadian cannabis company, valuing the company at C$2.3bn ($1.7bn). The Offer provides Aphria shareholders with 1.5714 common shares of Green Growth for each Aphria Share. "We are pleased to officially launch our bid for Aphria. This is an exciting opportunity for shareholders of both Green Growth and Aphria to build value and create the preeminent cannabis operator in North America," said Peter Horvath, CEO of Green Growth. "The combination of Aphria's Canadian supply and wholesale agreements with Green Growth's vertically integrated operations and rapidly growing retail footprint in the United States best positions us to capitalize on the massive growth opportunities in North America and beyond. I encourage Aphria shareholders to tender their shares to our offer."