Money: Aurora Cannabis appoints Nelson Peltz as adviser - PressFrom - Canada

MoneyAurora Cannabis appoints Nelson Peltz as adviser

16:10  13 march  2019
16:10  13 march  2019 Source:

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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

Nelson Peltz (born June 24, 1942) is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management, an alternative investment management fund based in New York.

EDMONTON - Aurora Cannabis shares are up following news that it has appointed U.S. billionaire Nelson Peltz as a strategic adviser and given him the option to buy a stake in the company.

The Edmonton-based cannabis company says it has granted Peltz options to purchase nearly 20 million common shares at $10.34 per share, slightly below Tuesday's closing price.

The shares were up more than 12 per cent in early trading, rising to $11.97 — up from Tuesday's close of $10.64.

Peltz is CEO and founding partner of Trian Fund Management LP, a multi-billion dollar investment management firm.

Aurora Cannabis appoints Nelson Peltz as adviser© Provided by Nelson Peltz of Trian Group, Heinz's second-largest investor, addresses shareholders during the annual meeting in Pittsburgh on August 16, 2006. He also serves as the non-executive chairman of The Wendy's Company and director of The Procter & Gamble Company, and was previously a director of H.J. Heinz Company and Mondelez International Inc.

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CNBC's Bertha Coombs reports that Procter & Gamble has granted Nelson Peltz a seat on its board of directors.

Nelson Peltz hates being called an activist, let alone a corporate raider. The longtime financier, who has made his name investing in companies like Heinz and DuPont and agitating for change, prefers to think of himself as a “constructivist,” someone who doesn’t necessarily seek to break up a company

Aurora said it will work with Peltz to explore potential partnerships for entry into certain market segments, and he will also advise on the cannabis producer's global expansion strategy.

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 international cannabis industry as regulations evolve, with a strong, globally replicable operating model," Peltz said in a statement.

The options granted to Peltz will become effective gradually over a four-year period on a quarterly basis, with accelerated vesting if specified events occur. Those events include the consummation of certain transactions and the closing price of Aurora's common shares reaching certain levels.

Companies in this story: (TSX: ACB)

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