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CGC - Canopy Growth Revises Its Deal To Acquire Acreage Holdings
Canopy Growth Corporation
Last April, the management team at Canopy Growth Corp (CGC) announced plans to acquire American hemp/cannabis giant Acreage Holdings Inc. (OTCQX:ACRGF) in a deal then valued at $3.4 billion. A lot has happened since then, with shares of Acreage falling more than 90% in response to industry oversupply, the advent of COVID-19, and shares of Canopy Growth also tanking. Generally speaking, such significant changes in the market can warrant one or more parties involved in a deal like this backing out, but in other instances it can result in a revision