Bloomberg reports that cannabis corporations prefer using their shares to buy other pot companies

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When a corporation's value on paper runs into the billions, it offers a fair amount of latitude to start taking over potential competitors.

It's as true in retail and resources as it is in the world of cannabis companies.

Today, BNN Bloomberg reported that 69 percent of all takeovers in the weed business were completely financed through share swaps.

Another 30 percent involved a combination of shares and cash, and only one percent were paid for entirely by cash.

The data was supplied to the news organization by the financial-markets platform Dealogic.

This contrasts sharply with how all other mergers and acquisitions are financed across the globe.

Dealogic found that this year, only 17 percent of these deals were financed through share swaps. Cash was relied on in 54 percent of these transactions, and 28 percent involved a combo of shares and cash.

Today, Canada's most valuable cannabis company is Nanaimo-based Tilray, which is worth US$9.27 billion. That translates to $12.73 billion in Canadian currency.

In second place is Canopy Growth Corporation, which has a market cap of $11.26 billion.

Other cannabis companies worth more than $1 billion include Aurora ($8.7 billion), Aphria ($3.7 billion), Medmen Enterprises ($3.47 billion), Cronos ($1.9 billion), and Hexo Corp. ($1.22 billion).