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.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CURLF:
- Cannabist to sell Virginia assets to Millstreet for $130M, cancels Curaleaf deal
- Curaleaf ‘applauds’ Trump Administration’s rescheduling of cannabis
- Curaleaf upgraded to Outperform from Sector Perform at ATB Capital
- Curaleaf Expands with Acquisition of Virginia Assets from The Cannabist Company
- Cannabist to sell Virginia assets to Curaleaf for $110M