Canada’s second-biggest marijuana producer Aurora Cannabis Inc has agreed to buy smaller rival CanniMed Therapeutics Inc for C$1.1 billion ($852 million), creating the globe’s largest weed producer by market value.

The deal follows months of tensions between the companies after Aurora made a hostile bid capped at C$24 per share for CanniMed, which itself was engaged in a friendly deal to buy Newstrike Resources Ltd.

The deal marked the world’s biggest marijuana industry transaction and topped a merger frenzy among cannabis companies ahead of Canada’s legalization of recreational use of marijuana by mid-2018.

Click here to read the complete article

Nichola Saminather ~ Reuters.com

Recent News Articles

Wednesday March 27

Can medicinal cannabis treat the tics in Tourette syndrome? - Cannabis News

in Medical News

by Bruce Kennedy - Editor in Chief

A pioneering clinical trial investigating medicinal cannabis as a potential treatment for people living with…

709 hits

Wednesday March 27

Ohio: Columbus’ first medical marijuana dispensary opens - Cannabis News

in Finance

by Bruce Kennedy - Editor in Chief

About 30 people waited in line Tuesday morning to shop in central Ohio’s first medical…

1856 hits

Wednesday March 27

CBD Expected to Have Explosive Growth In European Union - Cannabis News

in World News

by Bruce Kennedy - Editor in Chief

The market has been slower to grow than it has in the US. But that’s…

1780 hits

Wednesday March 27

4 Tips to Navigate the Hemp Gold Rush - Cannabis News

in Cannabis News

by Bruce Kennedy - Editor in Chief

Here’s what you need to know to protect your investment even as smart leaders work…

2122 hits

Thursday March 28

Pot & Real Estate: Port Hueneme's marijuana industry has commercial property values blazing - Cannabis…

in Real Estate

by Bruce Kennedy - Editor in Chief

Call it the “pot premium.” It’s driving up commercial real estate prices in the little…

1428 hits