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Canopy Growth Makes $3.4 Billion Play for U.S Cannabis Group Acreage Holdings

Martin Baccardax

The deal would give Canada-based Canopy 100% ownership of Acreage and value the New York, NY-based group at around $3.4 billion. If completed and approved by shareholders, Acreage investors would be paid $2.55 per share upfront, valued at $300 million and a further consideration of 0.5818 Canopy shares once the deal is completed. The deal would also give Acreage access to Canopy's intellectual property and marketing in a move to drive growth in a business that already has licenses or agreements in 19 U.S. states.