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Cronos Group Inc
Symbol C : CRON
Shares Issued 178,700,446
Close 2019-01-22 C$ 20.21
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Globe says Aurora, rivals expect more mergers this year

2019-01-23 07:36 ET - In the News

See In the News (C-ACB) Aurora Cannabis Inc

The Globe and Mail reports in its Wednesday edition that the pace of mergers and acquisitions in the Canadian weed industry is expected to intensify this year, possibly eclipsing initial public offerings as the sector begins to mature. The Globe's Alexandra Posadzki and Jeffrey Jones write that the sector is turning its attention to consolidation, as pot producers search for competitive advantages and the efficiencies that come with scale. Deloitte's Jennifer Maeba says, "As the cannabis sector continues to evolve, making acquisitions that provide scale and access to international growth will become increasingly important for licensed producers." Already, takeovers in the sector jumped into the billions of dollars in 2018. Major deals last year included Aurora Cannabis's $3.2-billion takeover of Medreleaf, its $838-million buyout of Cannimed Therapeutics and Aphria's $425-million takeout of Nuuvera. Aphria has since come under the scrutiny of short-sellers over its acquisition of a marijuana company with operations in Latin America and Jamaica. It has also become the target of a hostile, all-stock offer from Green Growth Brands. Large pharmaceutical companies have been notably absent from the action so far.

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