Acreage Holdings Inc (ACRDF)

[Diogenes of Sinope]

Canopy Growth isn’t buying Acreage Holdings, it’s buying the right to buy Acreage Holdings

Canopy Growth Corp. is not outright acquiring Acreage Holdings Inc., as reports said Wednesday, but it is preparing to pay billions for the rights to buy the U.S.-based pot company.


A source familiar with the negotiations confirmed Wednesday afternoon that a Canopy Growth CGC, +2.81% WEED, +2.81% deal with Acreage ACRGF, +9.14% was “98% done,” though the final price was still being worked out. Acreage had a market cap of $921.5 million as of Wednesday’s close, according to FactSet, but the deal will be worth “several billions” in Canadian dollars, the source said.

https://www.marketwatch.com/story/canopy-growth-isnt-buying-acreage-holdings-its-buying-the-right-to-buy-acreage-holdings-2019-04-17