Organigram agrees to acquire Aurora Cannabis for C$561 million

This is a new, concrete and conditional M&A arrangement that materially changes the takeover probabilities and expected consideration for Aurora Cannabis, Organigram and rival bidder Curaleaf; it is not merely market commentary or a price move. The provided sources state that Organigram agreed to acquire all Aurora shares for C$7.80 per share, valuing Aurora at approximately C$561 million, with closing expected in January 2027 subject to approvals. The announcement date is explicit, while the exact 14:16 UTC time is taken from the wire timestamp and is therefore treated as an estimate. Importance is high because this is a major single-name transaction and competing-bid development; surprise is moderately high because Aurora had been exploring alternatives, although the specific Organigram arrangement was not previously identified. Approved stakeholders are limited to the direct parties, the displaced bidder, and BAT as Organigram's significant strategic shareholder with an explicit voting-support agreement; indirect peer effects are too speculative for approval.