Multi-state marijuana operators Columbia Care and Cresco Labs have mutually agreed to extend the timeline for the two companies’ acquisition closing date From March 31 to June 30 this year.
It’s the second extension of its kind, which underscores the complexities of striking such a large deal at a time when other acquisitions have occurred have been cancelled Amid massive layoffs and tight financing in the cannabis industry.
advertisement
According to a press release, the extension will give Cresco and Columbia Care time to finalize the asset divestiture agreements needed to close the merger and obtain approvals from regulators.
Chicago-based Cresco Labs’ acquisition of Columbia Care, Estimated value of about $ 2 billion last Marchon both companies Sell a number of assets.
The mega deal was initially scheduled to close in December 2022.
That date has been pushed back to March, raising questions about whether the merger will actually close. the
Read the full article at Marijuana Business Daily
****
Are you looking for marijuana business guides and books about cannabis? Then you should not miss our online bookstore with hundreds of books about cannabis, CBD, THC and more!
*******
