Tilray shareholders approve Aphria merger, creating world’s biggest cannabis company by revenue

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Tilray Inc. TLRY, +0.49% shareholders voted to approve the Canadian cannabis company’s proposed merger with Aphria Inc. aphaca:apha at a special meeting on Friday, according to media reports, paving the way for the creation of the world’s biggest cannabis company measured by revenue. The move was widely expected after Aphria shareholders voted in favor of a deal by a wide margin, with a total of 99.38% of shares voted approving it on April 14. The deal is expected to close in the second quarter. Under the terms of the proposed deal, Aphria shareholders will receive 0.8381 of a Tilray share of class 2 common stock for each Aphria share owned.