Trulieve Cannabis Acquiring Harvest Health & Recreation in $2.1 Billion Deal

Trulieve Cannabis (OTC: TCNNF) is acquiring up-and-coming peer Harvest Health & Recreation (OTC: HRVSF) in an all-stock deal, both companies announced Monday.

Harvest stockholders will receive 0.117 of a subordinate voting share of Trulieve for each Harvest share they hold. Based on Friday's closing price for Trulieve, the deal is valued at $2.1 billion. That rate implies a price of $4.79 per share for Harvest, 34% above its closing price Friday.

Image source: Getty Images.

Continue reading

Source Fool.com