Canopy Growth Corp., the world's largest cannabis producer by market value, is among bidders for closely held Spanish firm Alcaliber SA, according to people familiar with the matter.
Canopy, based in Smiths Falls, Ontario, is competing against U.K. health-care investor GHO Capital and Spanish investment firm Alantra Partners SA, the people said, asking not to be identified because the deliberations are private. The producer of morphine and thebaine could be valued at about 200 million euros ($246 million) to 275 million euros in a deal, they said.
While talks are ongoing and Alcaliber may attract more bidders, Canopy is seen as the most likely acquirer, the people said. Final bids are due in coming days and a buyer could emerge by early April, they said.
Representatives for Canopy and Alantra declined to comment. GHO didn't respond to requests for comment.
