Canadian cannabis company Hexo announces third deal of 2021, the purchase of Redecan for C$925 million in cash and stock
Canadian cannabis company Hexo Corp.
HEXO,
+2.51%
HEXO,
+2.20%
said Friday it has agreed to acquire privately held Redecan for C$925 million ($764.7 million) in cash and stock. Under the terms of the deal, Hexo will pay C$400 million in cash and issue C$525 million in common stock at an implied price of C$7.53, five trading day-period volume-weighted average price (VWAP) of HEXO common shares on the Toronto Stock Exchange. The deal is expected to close in the third quarter and create the leader…
