SNDL Inc. sbdl said Monday it will acquire Valens Co. Inc. VLNS, -5.51% VLNS, -5.60% in an all-stock deal valued at C$138 million ($105.9 million). SNDL will pay 0.3334 shares of its stock for each share of Valens, the company said. The deal implies a value of C$1.26 per Valens shares, a premium of 32.6% over its Friday close of 95 cents per share. “With 555,500 square feet of cultivation and manufacturing space and 185 cannabis stores under the Spiritleaf and Value Buds banners, the combined company will offer a complete portfolio of branded products to consumers in Canada through its own supply and distribution channels,” the companies said. Shares of Valens were halted in early morning market hours. Shares of SNDL fell 6.6%.
