Canadian marijuana producer’s shares rise amid hopes of deal with Altria
Source: www.theguardian.com
The maker of Marlboro cigarettes otherwise known as Altria is in talks of taking over Canadian cannabis producer Cronos. This is an effort for Altria to divert its business from the traditional tobacco and tap into the cannabis markets. As of Tuesday, the Cronos market value was pushed to nearly $2 billion as shares were up more than 6% on the New York Nasdaq exchange.
