Trulieve Cannabis (CSE: TRUL) is one step closer to acquiring that of Harvest Health and Recreation (CSE: HARV). The firm this morning announced the expiration of the HSR Act waiting period.
The passing of the 30 day waiting period is notable, and enables the two firms to continue with the planned merger without additional interference. The Act effectively is focused on antitrust laws, and enables the FTC and the Department of Justice to “evaluate the potential anticompetitive effects of certain merger and acquisition transactions.” Notably, the Act has been a sore spot for cannabis companies in the past that have attempted to merge, despite the federal illegality of the sector.
The two firms are now able to continue to work towards the completion of the merger. The transaction remains subject to a number of conditions, including shareholder approval by Harvest Health. That approval is expected to be granted in the third quarter at a special meeting of shareholders.
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Closing of the arrangement is also contingent on certain regulatory approvals.
Trulieve Cannabis last traded at $45.51 on the CSE.
Information for this briefing was found via Sedar and Trulieve Cannabis Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
