The lawyer who led Canopy Growth's groundbreaking $3.4 billion purchase of US marijuana cultivator Acreage Holdings says it will 'untap the market' for companies hunting similar deals

Bruce Linton, Founder and Co-CEO of Canopy Growth, speaks to CNBC on the floor of the New York Stock Exchange in New York, U.S., March 7, 2019Canopy Growth on Thursday announced it entered an agreement to purchase Acreage Holdings, a US pot company.

Canadian marijuana behemoth Canopy Growth announced on Thursday morning that it has entered into a conditional agreement to purchase Acreage Holdings, a US pot company, for $3.4 billion pending federal legalization in the US. "This would certainly be one of the most complex M&A transactions I've ever worked on," said Jonathan Sherman, a partner at the law firm Cassels Brock, in an interview. Sherman, along with Cassels Brock partner Jamie Litchen, led Canopy's involvement on the deal.

As part of the deal, Acreage shareholders — including former Republican Speaker of the House John Boehner — will receive an immediate $300 million payment, pending approval by the Supreme Court of British Columbia as well as both Canopy and Acreage shareholders. "When we were negotiating the transaction, we kind of had to pull from a bunch of different places — it's a little bit part M&A, part joint venture in the sense that you've got two companies coming together with separate management teams, separate boards, and remain distinct entities for some time," said Sherman.

And they needed a $40 million tax break from the Liberals to set up in NL nlpoli

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cannabis stocks rally as Canopy secures future foothold in the U.S.Cannabis stocks rallied on Thursday, boosted by the news that the biggest company in the sector by market cap has bought the rights to acquire a U.S....
Source: MarketWatch - 🏆 3. / 97 Read more »

Canopy Growth nearing deal to buy U.S.-based pot company Acreage Holdings: sourceCanadian marijuana producer Canopy Growth Corp is close to a deal to buy U.S.-ba... Deal to buy rights?
Source: Reuters - 🏆 2. / 97 Read more »

Canopy Growth stock climbs more than 10% after report of potential merger with U.S. pot companyCanopy Growth Corp. shares spiked more than 10% higher in after-hours trading Wednesday after reports that it is preparing to acquire U.S. pot producer... I’ve been holding patiently and adding for everyone to realize this 😊🤯
Source: MarketWatch - 🏆 3. / 97 Read more »

Asian shares dip on caution over global growth, U.S. earningsAsian shares turned lower on Friday as trepidation ahead of the start of the U.S...
Source: Reuters - 🏆 2. / 97 Read more »

Markets mixed as growth fears clash with strong US bank earnings and Chinese export gainsStock markets reflected optimism mixed with trade disputes and financial conditions that 'have been plaguing investors,' said London Capital Group's Jasper Lawler.
Source: BusinessInsider - 🏆 729. / 51 Read more »