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June 14, 2022, 8:17 a.m. EDT

Tilray to pay lower price to buy Hexo

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By Steve Gelsi

Tilray Brands Inc. /zigman2/quotes/209129655/composite TLRY +7.75% rose 1.3% in premarket trades on Tuesday after the cannabis company said it crafted more favorable terms in its deal to acquire Hexo Corp. /zigman2/quotes/206508254/composite HEXO +3.30% . Tilray reiterated a target of up to C$80 million ($61.9 million) in cost savings for the deal, which it said will add to earnings upon the expected closing date on or around July 15. The initial conversion price of the Hexo note will be adjusted down to 40 cents a share from 85 cents a share, under the revised terms.

/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 4.17
+0.30 +7.75%
Volume: 21.01M
Dec. 1, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.37 billion
Rev. per Employee
$360,918
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/zigman2/quotes/206508254/composite
US : U.S.: Nasdaq
$ 0.17
+0.0055 +3.30%
Volume: 5.00M
Dec. 1, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$97.53 million
Rev. per Employee
$218,512
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