Cronos Group Inc (CRON.TO), the Canadian cannabis producer backed by cigarette maker Altria Group Inc (MO.N), confirmed on Thursday it is in talks with potential buyers to explore a sale of the company, after Reuters reported on the talks.
Business & FinanceDeals
Altria-backed cannabis producer Cronos explores sale
07 July 2023, 5:36 pm 1 minute
Market Impact
Shares of Cronos jumped as much as 25% in Toronto on the news, before giving back all gains and closing lower at $1.88, giving it a market value of C$954.62 million ($714.38 million). So far this year, the shares have lost a quarter of their value.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & Finance
Regions: Americas
Countries: Canada
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
