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MedMen and PharmaCann Terminate $682-Million Acquisition Deal

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MedMen Enterprises announced plans last year to purchase Illinois-based PharmaCann in a $682-million all-stock deal that would double MedMen's market reach and give the company a presence in 12 U.S. states. Now, nearly one year later, the companies are abandoning the transaction. California-based MedMen said that the PharmaCann acquisition was no longer in the best interest of its shareholders, according to a Chicago Tribune report. "In sum, the circumstances that led us to make the deal with...

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