Curaleaf Holdings, Inc. announced Tuesday that it intends to launch a takeover bid for Aurora Cannabis Inc., a proposed combination that the company says would create a global cannabis platform approaching a $3 billion market capitalization.

Curaleaf (TSX: CURA) (OTCQX: CURLF) said the proposed offer represents a 45% premium for Aurora (NASDAQ: ACB) shareholders, who would also have the opportunity to participate in the future growth of the combined company.

The proposed transaction would bring together Aurora’s European Union Good Manufacturing Practice (EU-GMP) certified cultivation and manufacturing operations with Curaleaf’s international distribution network.

Curaleaf said the combination would strengthen its ability to serve medical marijuana patients across Europe, Canada, Australia and New Zealand while generating revenue and cost synergies.

The company is taking the proposal directly to Aurora shareholders after what it described as repeated unsuccessful attempts to engage privately with Aurora about a potential transaction. Curaleaf said those efforts did not result in substantive discussions and that it continues to urge Aurora’s Board of Directors to engage on the proposal.

The announcement comes less than a week after Curaleaf reported $340.1 million in second-quarter revenue, up 10% from the same period last year. International revenue reached $51 million, growing 26% year-over-year, while the company reported $12.5 million in net income from continuing operations.

Aurora, meanwhile, reported $67.6 million in net revenue for the quarter ending June 30, including a 17% year-over-year increase in international medical marijuana revenue. The company ended the quarter with $149.1 million in cash, cash equivalents and short-term investments and no debt.

Aurora has increasingly focused on the international medical marijuana market, including Europe. Earlier this year, the company acquired Ontario-based Safari Flower Company, adding additional EU-GMP-certified cultivation and manufacturing capacity to its operations.

Curaleaf has similarly expanded its international business while maintaining a large U.S. presence. Its international operations have become an increasingly significant part of the company’s growth, with international revenue rising substantially faster than its overall revenue during the most recent quarter.

Curaleaf’s announcement represents an intention to launch a takeover bid rather than a completed agreement between the two companies. Aurora has not agreed to the proposed transaction, and Curaleaf is seeking to win support directly from the company’s shareholders.