Activist Marcato Opposes Canopy Growth's Takeover Of Acreage

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Marijuana plants grow in the Mother Room at the Canopy Growth Corp. facility in Smith Falls, Ontario, Canada. Activist investor Marcato Capital Management said it plans to vote against a proposed $3.4 billion takeover of Acreage Holdings Inc. by Canopy Growth Corp., arguing the transaction undervalues the U.S. marijuana producer. The San Francisco-based hedge fund, which owns 2.7 percent of Acreage, said in a letter to the company’s board Monday it would prefer Acreage to remain independent.

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