Curaleaf Stock Jumps On Latest Nine-Figure Deal; Marijuana Stocks Rise

U.S. cannabis producer and retailer Curaleaf (OTC: CURLF) on Wednesday agreed to buy dispensary operator Grassroots for $875 million in a cash-and-stock deal, creating an industry giant that could have business in as many as 19 states. Curaleaf stock jumped in over-the-counter trading. Most other marijuana stocks also rallied.

HIGHLIGHTS

• Curaleaf agreed to buy dispensary operator Grassroots for $875 million in a cash-and-stock deal.
• Grassroots, whose official name is GR Companies, is a Chicago-based private company founded in 2014 that currently runs 20 dispensaries.
• The acquisition would be the latest to consolidate different cannabis companies operating in different states — even as weed remains federally illegal.

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