4 Firms Steer Cannabis Deal Valuing Dispensary Biz At $3.4B

Law360 (April 18, 2019, 7:08 PM EDT) -- Canopy Growth, which makes various cannabis products, said Thursday it has agreed to buy a cannabis cultivation, processing and dispensary business in a deal valued at $3.4 billion and guided by Cassels Brock & Blackwell LLP, Paul Hastings LLP, DLA Piper and Cozen O’Connor but that won’t be sparked until federal prohibition is lifted.

Canada-based Canopy Growth Corp. said that it has agreed to buy Acreage Holdings Inc. once federal prohibition of marijuana is lifted in the U.S. The deal will see Canopy pay $300 million, or roughly $2.55 per Acreage voting share.

When the deal is finalized, holders of Acreage voting...

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