Canadian marijuana producer Canopy Growth Corp is close to a deal to buy U.S.-ba...
- Canadian marijuana producer Canopy Growth Corp is close to a deal to buy U.S.-based pot firm Acreage Holdings, a source familiar with the matter told Reuters on Wednesday.
The deal is expected to fetch a premium of about 28 percent to Acreage’s five-day average trading price - or roughly 25 percent of its closing price on Wednesday, the source said. Acreage went public on the Canadian Securities Exchange in November and has licenses or agreements with holders in 19 U.S. states, while also managing a chain of retail stores.
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