Canadian cannabis deal makers shift their focus away from domestic acquisitions [Toronto Globe and Mail (Ontario, Canada)]
Aurora Cannabis Inc. - Common Shares (ACB)
Company Research
Source: Toronto Globe and Mail
Canadian cannabis deal makers shift their focus away from domestic acquisitions A year ago, Aurora Cannabis Inc. was wrapping up its hostile bid for CanniMed Therapeutics Inc. The marijuana grower’s blockbuster $3.2-billion all-share takeover of MedReleaf Corp. was still months away, and Bay Street buzzed with rumours of cannabis companies buying one another in an attempt to scale up for recreational legalization. A year later, the deal flow has shifted dramatically, thanks to Constellation Brands Inc.’s $5-billion investment in Canopy Growth Corp. and Altria Group Inc.’s $2.4-billion investment in Cronos Group Inc. Cannabis deal makers are now focusing on consumer packaged goods partnerships and international acquisitions, while fewer large Canadian cannabis producers seem interested in acquiring one another. Story continues below advertisement “When [Constellation] came in and put that kind of capital on the table," said Steve Ottaway, managing director of investment banking at GMP
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ACB
Sec Filings
- 5/1/24 - Form 6-K
- 3/1/24 - Form 6-K
- 2/16/24 - Form 6-K
- ACB's page on the SEC website