Deal-Making in the Cannabis Industry Hits an All-Time High: What It Means for Marijuana Stocks
If it seems like there's been a spurt of deals and potential deals going on in the cannabis industry lately, it's because that's exactly what's happening.
Canopy Growth Corporation (NASDAQOTH: TWMJF) scored what was probably the most highly publicized deal with large beverage company Constellation Brands (NYSE: STZ) buying a 9.9% stake in the Canadian marijuana grower for $245 million. But Canopy has also forged other agreements with smaller companies both before and after the Constellation partnership.
More recently, Aurora Cannabis (NASDAQOTH: ACBFF) launched a takeover bid for CanniMed Therapeutics. Aurora had wanted CanniMed's board of directors to agree to an acquisition proposal made last week. When the board failed to respond, Aurora moved forward with its unsolicited takeover attempt.
Source: Fool.com
