Business & FinanceDeals

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.

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

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