{"id":9381,"date":"2018-05-14T13:21:42","date_gmt":"2018-05-14T17:21:42","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=0a47ca6cf86869eae7493df5adb5ba0a"},"modified":"2018-05-14T13:21:42","modified_gmt":"2018-05-14T17:21:42","slug":"bank-of-montreal-muscles-into-marijuana-ma-by-advising-aurora-in-biggest-deal-yet","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/05\/14\/bank-of-montreal-muscles-into-marijuana-ma-by-advising-aurora-in-biggest-deal-yet\/","title":{"rendered":"Bank of Montreal muscles into marijuana M&amp;A by advising Aurora in biggest deal yet"},"content":{"rendered":"<p>Bank of Montreal is emerging as the most aggressive of Canada&#8217;s big banks in the cannabis industry after landing a mandate to advise on the largest takeover in the sector.<\/p>\n<p>BMO Capital Markets was the exclusive adviser to <a href=\"http:\/\/business.financialpost.com\/cannabis\/update-1-aurora-cannabis-to-buy-rival-medreleaf-in-c3-2-bln-deal\">Aurora Cannabis Inc. on its $3.2 billion all-stock bid to buy MedReleaf Corp.<\/a>, encroaching on the territory dominated by smaller investment banks Canaccord Genuity Group Inc. and GMP Capital Inc. Canaccord advised MedReleaf on the acquisition announced Monday.<\/p>\n<p>The deal propels BMO Capital Markets into second spot for advising on Canadian pharmaceutical acquisitions &#8212; the category in which medical marijuana resides &#8212; behind Canaccord, according to data compiled by Bloomberg. Bank of Montreal last month advised Hiku Brands Company Ltd.&#8217;s on its announced $287.7 million bid to buy WeedMD Inc. Canaccord ranks No. 1 after advising on four deals with a combined value of US$5.15 billion.<\/p>\n<ul class=\"related_links\">\n<li><a href=\"http:\/\/business.financialpost.com\/cannabis\/update-1-aurora-cannabis-to-buy-rival-medreleaf-in-c3-2-bln-deal\">Aurora scores MedReleaf for $3.2 billion in biggest pot deal yet<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/cannabis\/weed-banker-snags-600-million-in-business-as-rivals-just-say-no\">How the CEO of an old-school credit union became Canada\u2019s go-to weed banker<\/a><\/li>\n<li><a href=\"http:\/\/business.financialpost.com\/cannabis\/bmo-in-on-100-million-financing-deal-for-cannabis-company-cronos\">BMO in on $100 million financing deal for cannabis company Cronos<\/a><\/li>\n<\/ul>\n<p>BMO Capital Markets became involved in Canada&#8217;s pot industry in January after helping lead a $200.7 million equity financing for Canopy Growth Corp., becoming the first major Canadian bank to arrange a stock sale for a pot company. BMO followed up in March, joining other banks on arranging a $100 million share sale by Cronos Group Inc.<\/p>\n<p>Cannabis is one of the few bright spots for equity financing in Canada, which is down about 60 per cent from a year ago, according to Bloomberg data. The industry is valued at about $31 billion on Canadian exchanges and is rapidly consolidating ahead of the legalization of recreational marijuana in the country later this year.<\/p>\n<p>Canaccord ranks No. 2 for arranging overall stock sales in Canada this year, mainly from its leadership position in helping cannabis companies on their equity financings. More than a third of 37 Canadian deals Canaccord has advised on this year were for marijuana companies, according to Bloomberg data, extending the firm&#8217;s streak as top adviser in that industry. Bank of Montreal ranks third for overall stock sales in Canada while Toronto-Dominion Bank is top.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/\"><em>Bloomberg.com<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of Montreal is emerging as the most aggressive of Canada&#8217;s big banks in the cannabis industry<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/9381"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=9381"}],"version-history":[{"count":2,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/9381\/revisions"}],"predecessor-version":[{"id":9403,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/9381\/revisions\/9403"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=9381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=9381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=9381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}