Cannabis company MedMen Enterprises’s deal to go public in Canada with a $1.65 billion valuation is the latest signal the U.S.’s northern neighbor is poised to capture more marijuana investment.
The reverse takeover -- in which a private company goes public via the acquisition of a listed one -- is among the largest deals for marijuana in Canada. With the plant’s legal status still questionable in the U.S., the transaction illustrates the corporate-cannabis industry’s migration north to raise cash from investors eager to latch on to a fast-growing market.
