Is another major marijuana merger on the way?
There have already been several big mergers and acquisitions among Canadian marijuana growers over the last couple of years. The biggest deal so far was Aurora Cannabis’ (NASDAQOTH:ACBFF) once-hostile but laterfriendly takeover of CanniMed Therapeutics. Now it seems that Aurora might be itching for an even bigger deal.
This time, the potential target isMedReleaf (NASDAQOTH:MEDFF). With a current market cap of $1.75 billion, MedReleaf ranks as the third-biggest Canadian marijuana grower behind Canopy Growth (NASDAQOTH:TWMJF) and Aurora. If Aurora acquires MedReleaf, it would immediately jump to the top. But is a deal really likely?
Image source: Getty Images.
What the companies are saying — and not saying
On Wednesday, Canadian newspaper The Globe and Mail reported that MedReleaf was looking for a potential buyer — and that Aurora was interested. Investors got so worked up about the possibility of a deal the next day that theInvestment Industry Regulatory Organization of Canada (IIROC) halted trading of both marijuana stocks on Thursday due to unusually high trading levels.
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- [By Shane Hupp]
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- [By Money Morning Staff Reports]
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- [By Money Morning News Team]
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Money MorningDirector of Technology & Venture Capital Research Michael A. Robinson has brought our readers some of the best ways to make money on technology stocks. But there’s always been one company that he’s largely avoided over his career… until now. You’re not going to believe what U.S. tech firm Michael says will unleash a wave of profits on investors in the future. Find out here.
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- [By Chris Lange]
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- [By ]
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- [By Stephan Byrd]
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- [By Motley Fool Staff]
Canadian Imperial Bank of Commerce (NYSE:CM)Q2 2018 Earnings Conference CallMay 23, 2018, 8:00 a.m. ET
Prepared Remarks Questions and Answers Call Participants
- [By Logan Wallace]
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- [By ]
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- [By Shane Hupp]
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