Sundial Growers' Stock Spikes On Announcing Acquisition Of Liquor Retailer Alcanna

Sundial Growers Inc. (NASDAQ: SNDL) is purchasing Canadian liquor retailer Alcanna Inc. (TSX: CLIQ) for roughly $346 million.

The Deal Details

Based in Calgary, Alberta, the company said Thursday that it agreed to acquire all of the issued and outstanding common shares of Alcanna.

Under the terms of the agreement, Alcanna's shareholders will receive, for each Alcanna common share held, 10.69 common shares of Sundial, representing a deemed value of $9.12 per Alcanna share.

The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in December 2021 or in the first quarter of 2022.

What It Means For Sundial

Apart from Alcanna's longstanding liquor business with trailing twelve months …

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