Deals
Two Canadian Companies Are Merging in the Biggest Weed Deal Ever
- Canada’s Aurora Cannabis to buy MedReleaf in all-stock merger
- Industry consolidation heats up as Canadian legalization looms
How Pot Can Save Big Tobacco's Future
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Consolidation in Canada’s nascent marijuana industry is heating up, with two of the largest players agreeing to the biggest merger seen so far in the sector.
Aurora Cannabis Inc. agreed to buy rival MedReleaf Corp. for about C$2.9 billion ($2.2 billion) in stock, the companies said Monday in a statement. The deal will create a producer with the capacity to grow 570,000 kilos (1.26 million pounds) a year of cannabis at nine facilities in Canada and two in Denmark. The merged company will also have distribution networks at home as well as in Europe, South America and Australia.