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Canadian cannabis company in takeover speaks with Marlboro tobacco business

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.

A good start in stocks

Cronos Group’s shares surged by 25% on Monday after Reuters stated thatthe cannabis producer may be described as a buyout target for Altria.

Global CBD Exchange

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