Peltz is triple threat of cannabis endorsements

Mae Love
March 15, 2019

(ACI) sent the latter's stock surging almost 16 percent Wednesday.

The deal does not involve Peltz joining Aurora's board.

Including Wednesday's gains, Aurora's USA -listed shares have surged more than 68 percent this year.

The Aurora deal gives Peltz the option to buy almost 20 million shares of the company at $7.74 - which could make him the second-largest owner, behind Vanguard. If exercised in full, that would make Peltz Aurora's second-largest shareholder after ETF provider Vanguard Group Inc., according to data compiled by Bloomberg.

Peltz, 76, was apparently brought in to instill financial and operational discipline into the youngsters running the multi-billion dollar enterprise. In the past, the investor has shaken up consumer packaged goods companies such as Procter & Gamble (PG), Kraft Heinz (KHC) predecessor H.J. Heinz, and Mondelez International (MDLZ)-all in the path that cannabis companies want to follow, as weed becomes a mainstream product like alcoholic beverages.

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Peltz's experience jibes with ACI's needs.

Trian, which Peltz co-founded in 2005, shuns the term activist investor, preferring to be known as a "highly engaged share owner".

"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. Aurora is a Canadian producer of marijuana that is listed in both Toronto and NY. Constellation and Altria both have the option of taking majority control of the Canadian cannabis companies in the future.

Financier Nelson Peltz speaks at the Simon Wiesenthal Center Honors Award.

Aurora Cannabis shares saw an uptick following news that it has appointed US billionaire Nelson Peltz as a strategic adviser and given him the option to buy a stake in the company. "Stories like this are further validation of the massive global potential of the cannabis industry". Pucher previously headed the investment bank's Canadian diversified banking division, which included Goldman's coverage of the Canadian cannabis industry. The investment saw Canopy Growth's stocks surge by a massive 30 percent.

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