Canadian Government Reviewing Constellation's Deal With Marijuana Firm Canopy

The Canadian government will take a closer look at a deal that could give global liquor giant Constellation Brands control over Canadian cannabis leader Canopy Growth, but analysts doubt the pending transaction will be held up for any significant amount of time.

“We can confirm that U.S.-based Constellation Brands Inc.’s proposed investment in Canopy Growth Corporation is subject to review under the Investment Canada Act,” Hans Parmar, spokesman for Innovation, Science and Economic Development Canada, told the Financial Post newspaper.

He said the proposed acquisition will be reviewed on its merits based on the overall economic benefit for Canada, “like all foreign investment transactions.”

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