Cannabis Deals Dry Up With Pot Stocks Limping Into Year End
The number of cannabis M&A deals in the four weeks ended Nov. 22 plunged to three — from 36 a year ago.
Dealmaking has gone quiet in the pot space as the slump in shares removes a vital currency and investors get picky.
Last week alone, Cresco Labs Inc. terminated its proposed acquisition of VidaCann Ltd., eliminating US$120 million in near-term cash requirements, and SOL Global Investments Corp. said it no longer intends to acquire MCP Wellness Inc., as “current market conditions do not support a transaction of this size.”
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