THE ART OF THE DEAL

Regina Leader-Post - - CANADA -

For Canada’s in­vest­ment bankers, cannabis has been the gift that keeps on giv­ing, un­leash­ing a steady stream of IPOS, takeovers and fi­nanc­ings. Last Oc­to­ber, U.S. al­co­hol giant Con­stel­la­tion Brands Inc. up­ended the sec­tor with a $245-mil­lion in­vest­ment in Canopy Growth, putting Canada’s cannabis in­dus­try on the in­ter­na­tional map. Then there was the three-way takeover dance that saw Aurora Cannabis snatch up Can­nimed Ther­a­peu­tics for $1.1 bil­lion in March, leav­ing New­strike Brands Ltd. out in the cold. But noth­ing could match Con­stel­la­tion’s sec­ond planned in­vest­ment in Canopy, a stag­ger­ing $5 bil­lion, which re­set val­u­a­tions in the sec­tor and set off a flood of spec­u­la­tion as to who might come call­ing next.

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