Marlboro maker in takeover talks with cannabis firm Cronos

Photo of Marlboro maker in takeover talks with cannabis firm Cronos
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Canadian marijuana producer’s shares rise amid hopes of deal with Altria

Altria, the maker of Malboro cigarettes, is in talks about a potential takeover of the Canadian cannabis producer Cronos as it seeks to diversify its business beyond traditional smokers.

Cronos shares were up more than 6% in early trading on Tuesday on New York’s Nasdaq exchange, pushing its market value to nearly $2bn (£1.6bn).

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