Cannabis Merger Between Cresco and Columbia Care Terminated
TL;DR Summary
Cannabis producers Cresco Labs and Columbia Care have mutually terminated their $2 billion merger, citing the evolving landscape in the cannabis industry and the inability to secure regulatory approvals. The deal, which was seen as a bet on the booming U.S. pot industry, aimed to create a dominant player in a market projected to reach $46 billion by 2026. The termination also includes the cancellation of a deal with Sean "Diddy" Combs to acquire divested operations.
- Cannabis firms Cresco, Columbia Care to terminate $2 billion merger Reuters
- Cannabis companies Cresco, Columbia Care call off $2 billion merger as industry awaits banking reform CNBC
- Cannabis MSOs Cresco Labs, Columbia Care terminate planned merger Marijuana Business Daily
- Diddy Loses Bid To Create Largest Black-Owned Cannabis Company As Deal Collapses HipHopDX
- Columbia Care Announces Corporate Actions to Accelerate Operational Efficiencies and Cash Flow Generation Yahoo Finance
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