By Stephen Nakrosis
Shares of cannabis company Sundial Growers Inc. are trading higher in Thursday's after-hours market, following news the company agreed to acquire Alcanna Inc. in an all-stock deal with a total consideration of about C$346 million.
Alcanna is a liquor retailer operating 171 locations predominantly in Alberta whose majority-owned subsidiary is Canadian cannabis retailer Nova Cannabis Inc.
At 6:43 p.m. ET, Sundial shares were trading 20% higher, at 77 cents a share. Volume at the time topped 8.7 million shares.
The stock finished the day's regular session on the Nasdaq with a 2.13% gain, closing at 64 cents a share.
Year to date, the stock is up more than 36%.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com