1. Hedge Fund Marcato Will Fight Against Acreage's Sale to Canopy Growth

    Hedge Fund Marcato Will Fight Against Acreage's Sale to Canopy Growth
    • Activist hedge fund Marcato Capital Management says it will vote against marijuana retailer Acreage Holdings' landmark sale to Canopy Growth.
    • Canopy Growth paid $300 million in April for the right to buy Acreage Holdings pending the federal legalization of marijuana in the US.
    • The shareholder vote is expected to happen in June...
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    1. The structure and consideration offered in this proposed transaction simply does not create value for Acreage shareholders.
    2. Shareholders of both companies appear to share Marcato's view that this is a great deal for Canopy and a terrible deal for Acreage.
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