Curaleaf Says Select Acquisition to Close Within Weeks
Curaleaf (OTC: CURLF) will finally take possession of the Select brand of cannabis products soon -- if an estimation by the company proves correct. On Friday, Curaleaf issued an update about this pending acquisition, plus two others.
The company said it and Select have met all requirements for the acquisition, save for the transfer of a license in Oregon. The two are working with state officials to secure approval, Curaleaf said, and the deal should finally close by Feb. 1.
This has been dragging for quite some time. Curaleaf first announced it bought Cura Partners -- the company behind Select -- last May. The price was the equivalent of around $950 million, to be paid entirely in stock. The terms and scope of the Curaleaf/Select deal, however, were subsequently amended to value the transaction at roughly $286 million.
Source Fool.com
