Bloomberg Lists Cannabis Takeovers Sitting In The Filing Cabinet At The Dept Of Justice

Here’s the list. Read the full article at the link below to learn, amongst other things

  • Trajectory of USA Cannabis Stocks Since Jane 2019 ( Chart)
  • Upcoming cannabis events and reviews
  • Why The US Govt has so little information on the sector


Here’s a list of the takeovers that are currently facing a holdup at the Department of Justice, according to Canaccord Genuity analyst Matt Bottomley:

Cresco Labs Inc. Origin House
MedMen Enterprises Inc. PharmaCann
Harvest Health & Recreation Inc. Verano Holdings
Curaleaf Holdings Inc. Select
Curaleaf Holdings Inc. Grassroots
Green Growth Brands Inc. Moxie

Bottomley believes the reviews are keeping some investors on the sidelines, since many of these companies are relying on the pending deals for aggressive pro-forma revenue growth.

However, “we believe the risk of the DOJ taking a hard stance against sector M&A on antitrust considerations is low given the nascent and disaggregated nature of the sector brought on by continued prohibition at the federal level,” Bottomley wrote in a note last week.

He expects the Department of Justice to begin approving deals as soon as next month, with Cresco’s proposed acquisition of Origin House the first to go. “As a result, we believe the closing of sector M&A could be the most near-term and material positive valuation catalyst in the sector for investors to get ahead of,” he said.

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