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Aurora Cannabis Inc. says its $1.1-billion bid to acquire CanniMed Therapeutics Inc. has been successful, and it will formally buy up the smaller company’s shares “as soon as possible.”

The Edmonton-based company’s announcement comes about three months after it launched an acrimonious hostile takeover bid for the firm, which is based in Saskatoon. Both companies agreed on a friendly takeover in January.

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“Following the take up, we will immediately commence with the integration of CanniMed into the Aurora organization and start executing on realizing the strategic synergies we have identified,” Aurora CEO Terry Booth said Friday in a statement.

The merger will form a “company that is exceptionally well positioned to capitalize on the tremendous opportunities in the domestic and international medical markets, as well as the Canadian adult consumer use market, once legalized,” Booth added.