(Bloomberg) Altria Group Inc., the maker of Marlboro cigarettes for the U.S. market, acquired a 45 percent stake in Canadian cannabis company Cronos Group Inc. marking a big victory for a former hedge fund manager’s family office. Chescapmanager LLC, the family office that manages the wealth of Traci Lerner, held nine million shares of Cronos as of Sept. 30 at an estimated cost basis of $4.15. The company’s stock surged more than 35 percent to $14.14 in pre-market trading following news of the deal.
Former Hedge Fund Manager Traci Lerner Strikes Gold in Altria Pot Deal
This entry was posted in Syndicated. Bookmark the permalink.
