One of the world’s biggest tobacco companies is bullish on bud.
Altria, parent company of New York-based Philip Morris (NYSE: PM) and maker of Marlboro cigarettes, invested $2.4 billion into a Toronto medical and recreational marijuana company.
The deal gives Altria (NYSE: MO) a 45 percent stake in Cronos Group.
Cronos (NASDAQ: CRON) said Friday that the Richmond, Virginia, tobacco company will pay another $1.4 billion for warrants that, if exercised, would give Altria a 55 percent majority…
