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By (user no longer on site) OP
over a year ago
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Two Canadian marijuana growers are hoping to get high on profit after agreeing to merge and create a $6bn (£4.2bn) company.
Aurora Cannabis is buying smaller pot producer CanniMed Therapeutics after a far-from-mellow takeover battle between the firms.
Canada plans to legalise recreational marijuana before July.
And the dope developers are betting on the merger putting them in a strong position when those changes come in.
The deal is the largest so far in Canada's fast-growing cannabis sector, and creates the world's most valuable marijuana company.
And analysts say that by paying about $850m for CanniMed, Aurora is able to get further into the market for using cannabis in medical products.
Illegal market up in smoke
Last year, Canada's Prime Minister Justin Trudeau vowed to "legalise, regulate, and restrict access to marijuana" in order to reduce access to young people and to displace the illegal market
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I think legalizing and regulating drugs is a good thing, over here it will be nearly impossible due to so many wealthy businessmen (posibly politicians) having investments in so many big pharmaceutical companies.
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