Aphria : Green Growth to commence offer to buy Aphria for about C$2.35 billion

(Reuters) - Canadian cannabis retailer Green Growth Brands Inc said it will formally make its offer to buy Canadian cannabis producer Aphria Inc for about C$2.35 billion ($1.76 billion) in stock on Wednesday.

The company said the offer provides Aphria shareholders with 1.57 common shares of Green Growth for each Aphria share. Green Growth stock closed at C$5.98 on Tuesday, while Aphria closed at C$9.43.

(This story corrects first paragraph to show that Green Growth is a U.S. company, not Canadian.)

(Reporting by Ishita Chigilli Palli in Bengaluru; Editing by Leslie Adler)