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MedMen acquisition of PharmaCann clears antitrust review

MedMen Enterprises Inc. said another condition for the proposed acquisition of PharmaCann LLC, one of the largest medical cannabis providers in the U.S., has been satisfied.

The required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired Sept. 9, MedMen noted in a Sept. 10 release.

California-based medical cannabis producer MedMen and PharmaCann agreed to the all-stock deal in December 2018. In March, the U.S. Department of Justice requested additional information from both the companies, to which they complied Aug. 9.

MedMen expects to complete the transaction by the end of the year, subject to closing conditions.