CGC has the best chance to transition to broader success should the U.S. ever go the route of legalization beyond the state level.
The private-equity firm says the conversion will allow investors to buy its shares without creating the need for a Schedule K-1, an Internal Revenue Service tax form that's used to report earnings from partnerships.
Stocks of both companies tumble following report of a merger roadblock.
Morgan Stanley says first-quarter profit falls 9% from a year earlier as revenue tumbles in the New York-based investment bank's trading business. But the results still exceed the expectations of Wall Street analysts.
Ongoing talks between Occidental Petroleum and Anadarko Petroleum were reportedly cut short on Friday following Chevron's blockbuster $33 billion cash-and-stock offer.
Citigroup posts better-than-expected results for the first quarter as a cut in the U.S. bank's effective corporate tax rate helps to offset a fall in stock-trading revenue.
Drugmaker Catalent reaches an agreement to buy closely held Paragon Bioservices, the latest deal in the burgeoning gene-therapy treatment space.
Waste Management reaches a deal to buy its smaller rival Advanced Disposal Services in a deal valued at $4.9 billion, including debt.
Waste Management is close to buying its smaller rival Advanced Disposal Services for $2.9 billion, a report says.
Citigroup, the giant U.S. bank, is expected to report first-quarter earnings roughly equivalent to those from a year earlier, even after rival JPMorgan Chase posted a 5% increase. Citigroup CEO Michael Corbat, who this week announced major changes in his senior leadership team, is expected to provide commentary on how the bank is faring amid a slowdown in global economic growth.
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