December 27, 2017 / 6:18 PM / 2 years ago

BUZZ-Weed companies' stocks rise after Canadian regulators ruling

** Shares of Canadian marijuana companies rise after Canadian regulators reject Aurora Cannabis’s request to shorten the minimum deposit period to 35 days from 105 days for the hostile takeover of CanniMed Therapeutics Inc ** CanniMed up 4.7 pct at C$20.89, Aurora up 9 pct C$7.86 ** Canopy Growth Corp up 17 pct, Cronos Group Inc 19 pct; Cannabix Technologies Inc, THC Biomed Intl Inc, Aphria Inc up 10 pct, OrganiGram Holdings Inc 6 pct

** Aurora request, if approved, would have increased the likelihood of the hostile takeover by preventing CanniMed’s bid to buy Newstrike Resources Ltd

** A decision to shorten the minimum deposit period would have tested Canada’s rules for hostile takeover bids, leaving less time for the target company to react to the acquisition

** The marijuana industry has seen a lot of M&A activity as it prepares for legalization in 2018

** Canopy Growth Corp plans to acquire some assets of Green Hemp Industries; In June, Organigram Holdings had acquired Trauma Healing Centers (Reporting by Karan Nagarkatti)

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