Curaleaf (CURLF) Holdings announced the termination of its binding commitment to acquire The Cannabist Company’s Virginia assets. A competing bid valued the Virginia Assets at $130M plus the assumption of a $30M lease liability. After a rigorous due diligence process, the company determined this amount exceeded the rational fair value for the assets. As noted in its release dated December 2, Curaleaf expects to receive a break fee of $3.3M upon cancellation of its original binding commitment.
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