Canadian cannabis company in takeover speaks with Marlboro tobacco business
Altria Group Inc, the ongoing business that produces Marlboro cigarettes, is in speaks with Canadian cannabis producer Cronos Group regarding a potential takeover.
The tobacco company is apparently trying to shore up stagnant product sales by acquiring Cronos.
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Cronos Group’s shares surged by 25% on Monday after Reuters stated thatthe cannabis producer may be described as a buyout target for Altria.
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Cronos shares noted on the Nasdaq shut trading on with an 11 monday per cent boost at $10.17. Thus giving Cronos an industry worth of about $1.8 billion. Lanjutkan membaca Canadian cannabis company in takeover speaks with Marlboro tobacco business