Acreage Shareholders Vote in Favor of Canopy Takeover Deal

June 19, 2019, 10:03 PM

Shareholders of Acreage Holdings Inc. have voted in favor of a proposed acquisition by Canopy Growth Corp. that will only close if cannabis becomes federally permissible in the U.S.

Acreage said its shareholders voted 95% in favor on Wednesday, while Smith Falls, Ontario-based Canopy said separately its investors voted 99% for the deal. To pass, two-thirds of Acreage shareholders and a majority of Canopy holders had to say yes.

Shareholders of New York-based Acreage will receive a sweetener of $2.55 per share in cash, with the remainder to be paid when the deal closes. The vote lifts one cloud ...

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