It’s not worth $100M. It’s worth the price that someone is willing to pay. Which in LGP’s case was $20M.
It may have cost Canopy far more than that to build it. But that was then and this is now. Canopy is most probably using it as a capital loss to offset other gains (IMO).
If they were to put this back on the market right now. Do you think they would get $100m for it? No, they would hopefully get $20m.
Because - well, who would they sell it to? It’s only worth what the market thinks it’s worth.
Cheers
Ann: Investor Webinar - Denmark Acquisition, page-36
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