According to a report out on Bloomberg Terminal, Canopy Growth (TSE: WEED; NYSE: CGC) is set to acquire Acreage Holdings (CNSX: ACRG.U).
The report appears to have originated from Scott Deveau of Bloomberg:
Canopy Growth is nearing a deal to acquire Acreage Holdings Inc. Story on @TheTerminal
— Scott Deveau (@scottdeveau) April 17, 2019
Although details of the deal have yet to emerge, nor have either company commented on the potential M&A activity, the deal would be one of the biggest in the cannabis industry. Pairing Acreage, a U.S. multi-state-operator (MSO), with Canopy, one of the largest Canadian licensed producers, would make for an interesting combination.
Canopy’s stock has enjoyed a very good year so far, up nearly 45%, whereas Acreage’s stock is nearly flat year to date.
Canopy and Acreage Stock Performance YTD
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