Cannabis producer Aphria is going bananas after report says Green Growth is planning a $2.1 billion hostile takeover offer

REUTERS/Chris Helgren

Aphria CEO Vic Neufeld poses near a wall covering of a marijuana leaf at a party the day before Canada's legalization of recreational cannabis in Toronto, Ontario, Canada October 16, 2018.

• Aphria, the Canadian cannabis producer, soared after-hours on Thursday following a report Green Growth Brands was planning a hostile takeover offer for the company.
• The deal would value Aphria at $2.1 billion, according to the Bloomberg report.
• Watch Aphria trade live.

Shares of Canadian cannabis producer Aphria soared by more than 20% late Thursday on the heels of a report that Green Growth Brands, a US-based marijuana grower, was planning a hostile takeover offer for the company.

The deal would value Aphria at 2.8 billion Canadian dollars ($2.1 billion), according to the Bloomberg report citing people familiar with the matter. Aphria's market cap at the end of Thursday's trading session was $1.39 billion, according to Bloomberg data.

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Aphria shares.