MedMen stock is down over 13% today after MedMen Enterprises (CSE:MMEN) (OTCQX:MMNFF) announced the termination of its proposed takeover of private cannabis firm PharmaCann.
MedMen Stock Drops on Industry Headwinds and Regulatory HurdlesMedMen Enterprises initially announced the all-stock takeover of PharmaCann on December 24 last year, and the deal appeared to be nearing completion last month following the expiration of the waiting period under the HSR Act 1976. However, MedMen has today withdrawn from the deal, citing a variety of reasons, including market underperformance, regulatory hurdles, and the company’s increased focus on California. MedMen stock ...
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