19:49:20 EDT Wed 18 Sep 2019
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Aphria Inc
Symbol C : APHA
Shares Issued 250,710,023
Close 2019-05-15 C$ 9.43
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FP/wire say ianthus, rivals pass on copying Canopy

2019-05-16 09:39 ET - In the News

See In the News (C-IAN) iAnthus Capital Holdings Inc

The Financial Post reports in its Thursday, May 16, edition that pot companies say they are not interested in replicating Canopy Growth's deal for Acreage Holdings, arguing that a structure that depends on United States legalization creates risks for both sides. A Bloomberg dispatch to the Post reports that Canopy said last month that it will buy Acreage for $3.4-billion (U.S.) in a deal conditional on the U.S. legalizing marijuana at the federal level in the next 90 months. The value of the cash-and-stock offer has fluctuated since then and is currently worth about $29 (U.S.) a share. That is about $10 (U.S.) above Acreage's current stock price, indicating investors are not convinced the deal will get done. The structure does not appeal because it limits the target's potential stock gains, said ianthus Capital Holdings boss Hadley Ford. "There's no new capital associated with that and I think it puts a limit on what your upside might be," Mr. Ford said at pot conference in New York. If ianthus were to agree to a deal, it would be looking for something that enhances its retail presence, adds interesting brands or drives down its cost of capital. A Canopy-like deal "doesn't seem to check any of those boxes," he said.

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