HEXO - Is Tilray Stock a Buy With Its Acquisition of Hexo?
2023-04-11 05:57:00 ET
Some corporate buyouts come as a total shock. Others aren't surprising in the least. I think you can include Tilray Brands ' (NASDAQ: TLRY) planned acquisition of Hexo (NASDAQ: HEXO) in the latter category.
Tilray announced after the market closed on Monday that it plans to buy Hexo for a total of around $56 million in an all-stock transaction. The deal is expected to close in June 2023 but must first clear regulatory hurdles and win approval from Hexo shareholders.
Shares of Tilray have plunged more than 50% over the past 12 months. But is the beaten-down marijuana stock a buy with its acquisition of Hexo?
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Is Tilray Stock a Buy With Its Acquisition of Hexo?