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CL - Cresco Labs Inc News Story

C$9.11 0.1  1.2%

Last Trade - 11/08/20

Sector
Healthcare
Size
Mid Cap
Market Cap £1.79bn
Enterprise Value £1.96bn
Revenue £133.2m
Position in Universe 139th / 2677

BRIEF-Cresco Labs To Acquire Origin House In Largest-Ever Public Company Acquisition In The U.S. Cannabis Sector

Mon 1st April, 2019 1:42pm
April 1 (Reuters) - Cresco Labs Inc  CL.CD :
    * CRESCO LABS TO ACQUIRE ORIGIN HOUSE IN LARGEST-EVER PUBLIC
COMPANY ACQUISITION IN THE U.S. CANNABIS SECTOR
    * CRESCO LABS - TRANSACTION REPRESENTS A TOTAL CONSIDERATION
OF
APPROXIMATELY C$1.1 BILLION ON A FULLY-DILUTED BASIS
    * CRESCO LABS- DEAL FOR C$12.68 PER ORIGIN HOUSE SHARE
    * CRESCO LABS - HOLDERS OF SHARES OF ORIGIN HOUSE WILL
RECEIVE
0.8428 SUBORDINATE VOTING SHARES OF CRESCO LABS FOR EACH ORIGIN
HOUSE SHARE
    * CRESCO LABS - ORIGIN HOUSE SHAREHOLDERS WILL HOLD ABOUT
20% OF
CRESCO LABS SHARES ON A PRO FORMA, FULLY-DILUTED AND AS
CONVERTED BASIS
    * CRESCO LABS - TRANSACTION WILL BE EFFECTED BY WAY OF A
PLAN OF
ARRANGEMENT UNDER LAWS OF PROVINCE OF ONTARIO
    * CRESCO LABS - TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY
BOARD
OF DIRECTORS OF EACH OF CRESCO LABS AND ORIGIN HOUSE
    * CRESCO LABS - MARC LUSTIG WILL BE APPOINTED TO EXECUTIVE
MANAGEMENT TEAM OF CRESCO LABS
    * CRESCO LABS - AGREEMENT CONTAINS TERMINATION FEE OF C$45
MILLION
PAYABLE BY ORIGIN HOUSE IN EVENT THAT TRANSACTION IS TERMINATED
IN CERTAIN CIRCUMSTANCES

Source text for Eikon:  ID:nBw5BP2dMa 
Further company coverage:  CL.CD 

 ((Reuters.Briefs@thomsonreuters.com;))
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