Chicago medical marijuana firm cancels $2 billion merger
Cresco Labs will not team up with Columbia Care after the Chicago-based medical marijuana company called off the $2 billion merger on Tuesday. The agreement would have also included a $155 million spinoff to music mogul Sean 'Diddy' Combs.
CHICAGO - A Chicago-based medical marijuana company is calling off a two-billion-dollar merger.
Cresco Labs will not team up with Columbia Care.
They were set to merge in March 2022 and released a new plan to merge in March of this year.
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The agreement would have also included a $155 million spin-off to music mogul Sean "Diddy" Combs.
The two companies say the decision not to merge was mutual.