STAMFORD, Conn. — Curaleaf Holdings Inc. terminated its binding commitment to acquire The Cannabist Company’s Virginia assets. A competing bid valued the Virginia Assets at $130 million plus the assumption of a $30 million lease liability. After a rigorous due diligence process, Curaleaf determined this amount exceeded the rational fair value for the assets.
Curaleaf expects to receive a “break fee” of $3.3 million upon cancellation of the binding commitment.
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