Cannabis Merger Between Cresco and Columbia Care Terminated
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.