Curaleaf Holdings Inc. shares soared Wednesday to lead the cannabis sector higher, after the company announced it is acquiring Cura Partners, the parent of the Select brand, in an all-stock deal valued at C$1.27 billion, or about $949 million.
To avoid any appearance of conflict of interest, the deal was negotiated by management and advisers under a special committee, which paid for a fairness opinion from Beacon Securities Ltd. On closing, Cura’s Founder Cameron Forni will join Curaleaf as president of Select.Hexo Corp. shares HEXO, +0.90% HEXO, +1.68% rose 1.8%, recovering some of their prior-day losses that came amid concerns about heavy flooding near its production facility in Gatineau, Quebec.
The FDA is concerned that some medications lead patients to engage in life-threatening activities while not fully awake. Piper rates Canopy and Tilray as overweight, the equivalent of buy. Canopy shares were up 2.1% and Tilray was up 1.0%. Elsewhere in the sector, Green Organic Dutchman Holdings Ltd. TGOD, +1.56% TGOD, +1.56% was up 1.8%. The company said it would open a second legal cannabis store in Jamaica in cooperation with Epican Medicinals on May 4. Three further outlets are planned.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
McGraw-Hill, Cengage Plan All-Stock MergerMcGraw-Hill and Cengage plan to merge in a deal that would create the second-largest provider of college textbooks and other higher-education materials in the country. anybody figured out college text books are a scam yet? Dear TheJusticeDept, THIS is what anti-trust law was designed for. Stop this merger! why not use tablets for textbooks?
Source: WSJ - 🏆 98. / 63 Read more »
U.S. education groups McGraw-Hill, Cengage plan all-stock mergerEducational publishers McGraw-Hill Education Inc and Cengage Learning Holdings I...
Source: Reuters - 🏆 2. / 97 Read more »
Stocks edge higher as Apple results boost Dow, tech sharesStock futures push higher on Wednesday, pointing to potentially more records for major indexes as Apple Inc. shares climbed in premarket on an upbeat...
Source: MarketWatch - 🏆 3. / 97 Read more »
Coke and Pepsi Could Be Cannabis Stocks, Too — if They Join the CBD CrazeMajor beverage and cannabis companies — including Coca-Cola, PepsiCo, Tilray, and Canopy Growth — look poised to benefit from exploding demand for CBD products. It’s all about scale. The idea behind the industry was to have small businesses grow and mature. It was never meant for the matured business to hijack. Don’t recall any activism by coke or Pepsi they had nothing to do with regulatory changes.
Source: MarketWatch - 🏆 3. / 97 Read more »
Australian stocks set to open higher; Japan markets closed for 10-day holidayJapan is currently on a 10-day holiday from April 27 to May 6 to celebrate the enthronement of the country's Crown Prince Naruhito.
Source: CNBC - 🏆 12. / 72 Read more »
3M’s stock on verge of worst day since 1987 stock-market crashShares of 3M Co. plunge toward biggest one-day decline in over 30 years, after the industrial, health care and consumer products company reported missed... Darn, they should shoot the management. Over sold... All of these old companies need a few Elons at the top to stay relevant
Source: MarketWatch - 🏆 3. / 97 Read more »
3M’s stock suffers worst day since 1987 stock-market crashShares of 3M Co. ring up the biggest one-day decline in over 30 years, after the industrial, health-care and consumer products company missed profit and...
Source: MarketWatch - 🏆 3. / 97 Read more »