The Daily Buyout

Wednesday, November 4, 2026

The Daily Buyout

59 deals · $7.5B announced

A Canadian cannabis bidding war takes center stage today, with Organigram signing a deal for Aurora while Curaleaf's hostile offer stays on the table. CVS is unwinding its Aetna-era conglomerate, Salesforce is paying up for AI customer service, and AI security keeps pulling in acquirers. Below the fold, a long tail of tuck-ins, real estate trades and wealth-management roll-ups rounds out a busy day.

Top deal of the day

Organigram agrees to buy Aurora Cannabis at C$7.80 a share, challenging Curaleaf

C$7.80/share offerStrategic acquisitionConsumer & Retail

Organigram Global has signed an arrangement agreement to acquire all outstanding shares of Aurora Cannabis at C$7.80 per share. The deal sets up a contest with Curaleaf, whose enhanced hostile bid from October 6 remains outstanding. Curaleaf says its offer is superior and accuses Aurora's board of refusing to engage or grant it due-diligence access.

Why it matters: A friendly deal against a live hostile offer turns Aurora into the centerpiece of a cannabis consolidation fight, with Curaleaf questioning the details Aurora and Organigram haven't disclosed, including the break fee and investor rights for BAT.

Good deal?

Get this in your inbox every morning

The day's biggest deals in five minutes. Free, with no paywalled links.

Free · Unsubscribe anytime

3
$117B market valueDivestiture / carve-outHealthcare & Life Sciences

CVS plans to split off its drugstore business, unwinding the Aetna-era conglomerate

CVS Health plans to separate its roughly 9,000 retail pharmacies from its Aetna insurance business and Caremark PBM, creating two public companies by the first half of 2028. The insurance and PBM company keeps the CVS Health name under CEO David Joyner; CVS Pharmacy will be led by Prem Shah. Shareholders will own shares in both.

7
$300MStrategic acquisitionFinancial Services

Bilt buys sports loyalty tech firm Lava in $300M deal

Rent-rewards fintech Bilt Technologies agreed to acquire Lava, a sports loyalty technology company, in a $300 million deal. Lava connects point-of-sale, ticketing, loyalty and payments systems and works with 56 pro sports franchises, including the Detroit Lions and Denver Nuggets.

Other deals this day52 more

Get tomorrow's edition in your inbox

Free · Unsubscribe anytime