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Trulieve is buying Harvest Health & Recreation in an all-stock deal that values the target at $2.1 billion.
The deal will make Trulieve the largest cannabis retailer in Florida and Arizona.
The combined company will be the largest US cannabis company by footprint and revenue.
New York is consuming the cannabis industry s attention. So Trulieve is looking west.
The Florida cannabis company said on Monday it will purchase Tempe, Arizona-based Harvest Health & Recreation in an all-stock deal that values Harvest at $2.1 billion. The deal will create the most profitable US cannabis company and one of the largest, rivaling industry leader Curaleaf.
Trulieve Cannabis Corp to acquire Harvest Health and Recreation in $2B deal, enter Maryland market bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
Trulieve Cannabis (OTC:TCNNF) is acquiring up-and-coming peer
Harvest Health & Recreation (OTC:HRVSF) in an all-stock deal, both companies announced Monday.
Harvest stockholders will receive 0.117 of a subordinate voting share of Trulieve for each Harvest share they hold. Based on Friday s closing price for Trulieve, the deal is valued at $2.1 billion. That rate implies a price of $4.79 per share for Harvest, 34% above its closing price Friday.
May 8, 2021 at 6:30AM
Are you looking for some quality pot stocks to add to your portfolio that aren t incredibly overpriced and could be due to post some strong numbers this year? Two stocks you won t want to ignore are
Harvest Health & Recreation (OTC:HRVSF). Not only are these companies doing well, but investing in them won t cost you a hefty premium they are trading at cheap levels compared to some of their peers.
Both of these stocks are also in great positions to take advantage of some hot new marijuana markets, and investing in them today could set you up for some strong returns in 2021.