ACRGF - The Odds That Canopy Growth's $3.4 Billion Bet Will Pay Off Are Now Better Than Ever
Canopy Growth (NYSE: CGC) rolled the dice when it struck a deal last year to acquire U.S.-based cannabis operator Acreage Holdings (OTC: ACRGF). The Canadian cannabis producer paid $300 million up front for the right to buy Acreage with a total potential price tag of $3.4 billion. But the transaction would be completed only if marijuana became legal at the federal level in the United States.
The chances of such an occurrence appear to be significantly better now than they were just a few days ago. That means the odds that Canopy's big bet will pay off should be much better as well. And it's all because of politics.
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