Is a Major Acquisition Brewing in the Cannabis Industry?
Consolidation in the cannabis industry is inevitable. Companies are struggling right now, burning through cash amid mounting losses. It may only be a matter of time before investors start to see some deals take place involving major players in the industry. There are already reports of one potential blockbuster that could be in the works that investors should watch out for.
According to Reuters, Cronos Group (NASDAQ: CRON) is looking to sell and is in talks with possible buyers. One of the companies reportedly involved is multistate marijuana operator (MSO) Curaleaf Holdings (OTC: CURLF). Cronos says it is in the "initial stages" of exploring these possibilities, while Curaleaf has stated that its policy is not to comment on speculation.
Although both parties are pretty quiet on the matter, here's why it may be in the best interests of both businesses.
Source Fool.com
