Puff Daddy had a big move into the legal weed industry lined up.
However, the deal fell apart.
Diddy had planned to buy marijuana operators Cresco Labs and Columbia Care for $185 million.
The deal was contingent on Cresco and Columbia merging. While management had reached an argument to do so, the shareholders didn't give the merger the O.K and the lack of a merger terminated Puff's deal.
Puff says the Combs global empire is now looking at other ways to diversify the cannabis industry.