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.
Full report: https://www.bloomberg.com/news/articles/2019-09-08/u-s-pot-industry-faces-antitrust-overhang-cannabis-weekly