Curaleaf disclosed Tuesday its plan to acquire Aurora Cannabis (ACB) for an implied consideration of $4 per share, comprising 0.3463 Curaleaf share and $0.75 in cash.

The proposed deal is expected to create a global cannabis platform with over $1.5 billion last 12 months revenue and nearly $350 million in adjusted EBITDA, with at least $40 million in annual cost synergies.

No formal takeover bid has been commenced, Curaleaf said, adding that there is no assurance the proposed offer will ultimately be made.