Cannabis Wire, "At LA Cannabis Conference, Investors Talk Canopy, Acreage, and the Double-Edged Sword of Prohibition"
The transaction, in which Canopy sort of pre-acquired Acreage, was carried out through a “plan of arrangement,” a court-approved process for a foreign merger that has become popular in Canada, Joshua Masur, a partner at Zuber Lawler, noted during a conversation with Alexander Lalka, a partner at Miller Thomson. The deal, Lalka added, will consist of two steps. First, Canopy will give $300 million to Acreage shareholders (“about $2.6 dollars per share”). Then, once Canopy can legally operate in the United States, it will “actually acquire Acreage and the balance of the purchase price will be paid.” The purchase price? $3.4 billion dollars, “ a very significant transaction,” Lalka said.