Canada cannabis firm rejects US takeover bid

Canadian cannabis producer Aphria on Friday rejected a proposed Can$2.8 billion ($2.1 billion US) takeover bid by US-based Xanthic Biopharma, calling it hostile and under-valued.Green Growth Brands, a division of Xanthic Biopharma, presented a conditional offer of Can$11 per share on Thursday after markets closed.It is offering to buy one of the biggest producers of cannabis in Canada, which in October legalized recreational use of the drug, drawing major investment to an industry previously foc