: Cronos Group stock rises in premarket as it confirms merger talks
Cronos Group Inc. CRONCA:CRON stock is up nearly 6% in premarket trades on Friday after the Canadian cannabis company said it’s reviewing unsolicited indications of interest from potential buyers. The company said it confirmed that it has received “a number” of inquiries about “a potential transaction involving Cronos.” It said it’s in the early stages of reviewing the proposals and it can make no assurances about any deal announcements. Earlier, Reuters had reported that Cronos was working with a financial adviser and that U.S. cannabis company Curaleaf Holdings CURLF was among the potential buyers. Cronos is backed by tobacco giant Altria MO.
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