'Window is tightening' for Columbia Care's merger with Cresco - Echelon

Cresco Labs

30/03/2023 14:45

** Echelon Capital Markets trims PT of cannabis firm
Columbia Care Inc  CCHW.NLB  to C$1.65 from C$3 
    ** Says 'window is tightening' on co's pending merger with
Cresco Labs Inc  CL.CD   
    ** The two companies in February had extended the deadline
to complete the deal to June 30 
    ** "We believe the parties are continuing to work towards
signing definitive divestiture agreements that are required in
Ohio and Florida to avoid crossing the threshold of
state-imposed caps on license ownership" - brokerage
    ** Echelon notes that further slippage in announcing the
required divestures could begin to pose 'significant risks' to
the merger
    ** Eight of nine brokerages rate CCHW "buy" or higher, one
rates it "hold"; their median PT is C$3.20 - Refinitiv
    ** Up to Wednesday's close, CCHW has fallen 29.7% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))