RE:Piper Sandler Keeps Underweight Rating on Canopy GrowthThis is too narrow minded.
klein wants the purchases closed so he can influence how those businesses are run and how they can integrate and achieve some cost synergies. He gets that by being one of 4 people on USA's mgmt board after closing the deal/
nasdaq doesn't want them to consolidate this subsidiary for acctg reporting. Klein and his cfo as much as said they could probably deal with that and provide enhanced reportin I think they called it where they follow nasdaq/sec acctg rules but also provide all the reporting on USA as well but separate. They won't give up the nasdaq listing over an acctg issue. They will pay their auditors to get as much disclosure as they can while retaining the nasdaq listing but still move ahead with the deal. On this front Klein wants the world to see the financial results of these companies so he has to buy them. Even though these companies will be private, he owns them so then he can choose to release the results publically. He can't do that now as he doesn't own them