Curaleaf increased its unsolicited bid for Aurora Cannabis by 25%. Beyond the headline price, the transaction offers a revealing look at cannabis M&A, stock consideration, valuation, negotiating leverage and industry consolidation.

What should you investigate before buying a California cannabis business? Our cannabis M&A due diligence checklist covers licenses, financials, taxes, inventory, real estate, compliance, ownership and the red flags that can change a deal.

Buying a California cannabis business involves far more than purchasing a license. This complete guide explains ownership changes, acquisition structures, due diligence, financing, regulatory approvals, inventory, real estate and closing.