Bank of Montreal is emerging as the most aggressive of Canada’s big banks in the cannabis industry after landing a mandate to advise on the largest takeover in the sector.
BMO Capital Markets was the exclusive adviser to Aurora Cannabis Inc. on its C$2.9 billion ($2.3 billion) all-stock bid to buy MedReleaf Corp., encroaching on the territory dominated by smaller investment banks Canaccord Genuity Group Inc. and GMP Capital Inc. Canaccord advised MedReleaf on the acquisition announced Monday.
