Altria/Cronos Group – The Forgotten Deal ($MO/$CRON) – Investment Watch
The (Forgotten) Deal Altria Group bought a 45 percent stake in leading cannabinoid company Cronos Group for about $1.8 billion. Altria also has a warrant that would allow it to increase its stake in Cronos to about 55 percent at a price of $19 per share. It allows Cronos the flexibility to take investments from other companies such as, for example, a big food company. “The proceeds from Altria’s investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumer,” Cr...
Source: investmentwatchblog.com