Curaleaf and Grassroots Downsize Their Buyout Deal
Nearing its one-year anniversary, Curaleaf Holdings' (OTC: CURLF) arrangement to buy privately held peer GR Companies (doing business as Grassroots) has been modified by the two parties.
Curaleaf announced in a press release on Monday that the cash portion of the deal, which was originally announced in July 2019, will be eliminated. Meanwhile, Curaleaf will transfer more of its shares to Grassroots.
Originally, Curaleaf was to pay 102.8 million of its subordinate voting shares, $40 million worth of that stock according to a 10-day volume-weighted average price, and $75 million in cash. At the time, the deal was worth around $875 million.
Source Fool.com
