Canadian cannabis company in takeover speaks with Marlboro tobacco business

Canadian cannabis company in takeover speaks with Marlboro tobacco business

Altria Group Inc, the ongoing business which makes Marlboro cigarettes, is in speaks with Canadian cannabis producer Cronos Group regarding a possible takeover.

The tobacco company is cbdoilexpert.net/ apparently seeking to shore up stagnant product sales by acquiring Cronos.

A lift in stocks

Cronos Group’s shares surged by 25% on Monday after Reuters stated thatthe cannabis producer might be considered a buyout target for Altria.

Global CBD Exchange

Cronos stocks noted on the Nasdaq shut trading on Monday by having an 11 per cent boost at $10.17. This provides Cronos an industry worth of approximately $1.8 billion.