Why Sundial Growers Stock Is Perking Up Today
Shares of the Canadian cannabis company Sundial Growers (NASDAQ: SNDL) are having a strong finish to the week. They're up by a healthy 11.1% as of 10:42 a.m. EDT on Friday.
Sundial's shares are up by double digits today on the news that it will acquire Canada's largest private liquor retailer, Alcanna. The deal is an all-stock transaction worth approximately 346 million Canadian dollars ($277.22 million). Alcanna shareholders will receive 10.69 common shares of Sundial in exchange for one share of the liquor giant. Alcanna's shareholders, per the press release, will also have a hand in running the combined company.
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Source Fool.com
