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New York - Marlboro Maker Leaps Into The Cannabis Trade With $2.4B

Dec 07, 2018 at 11:30 AM

New York - One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in. Marlboro maker Altria Group Inc. is taking a 45 percent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday. Altria will pay another $1.4 billion for warrants that if exercised, would give the Altria a 55 percent ownership stake in...

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