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Home Main Forums Latest Breaking News Marlboro maker in takeover talks with cannabis firm Cronos

  • Judi Lynn (12570 posts)
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    Marlboro maker in takeover talks with cannabis firm Cronos

    Marlboro maker in takeover talks with cannabis firm Cronos
    Canadian marijuana producer’s shares rise amid hopes of deal with Altria
    Staff and Reuters
    Tue 4 Dec 2018 13.16 EST

    Altria, the maker of Malboro cigarettes, is in talks about a potential takeover of the Canadian cannabis producer Cronos as it seeks to diversify its business beyond traditional smokers.

    Cronos shares were up more than 6% in early trading on Tuesday on New York’s Nasdaq exchange, pushing its market value to nearly $2bn (£1.6bn).

    Canada legalised recreational use of marijuana this year, and the country is seen as a testing ground for marijuana companies hoping to expand globally as other countries follow suit.

    Cronos said no agreement about a transaction had been reached, adding there could be no assurance such discussions would lead to an investment or any other transaction involving the companies.

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  • Satan (4734 posts)
    Donor

    1. This must NEVER be allowed to happen!

    If big tobacco infects cannabis, it will “miraculously” become a deadly product overnight.

    Same thing if Monsanto tries to get involved, for that matter. GMO weed? Hell forbid!!

    I didn't refuse to vote for Hillary Clinton because any goddamned Russian told me to. I refused to vote for her because she is a warmongering, election stealing, Goldman Sachs fellating, Republican WHORE. No offense to sex workers.
  • eridani (6814 posts)
    Donor

    2. Oh, shit! n/t

    You've heard of the Good Witch of the North and the Wicked Witch of the West, right?  I'm the Morally Ambiguous Witch of the Northwest.