Altria, Philip Morris discuss reunion merger
Cigarette maker Philip Morris International Inc. (NYSE: PM) said Tuesday it’s in discussions about the possibility of reuniting with industry leader Altria Group, Inc. (NYSE: MO) in a possible blocbuster all-stock merger that would create a massive $200-billion-plus company.
Altria spun PM off more than a decade ago, and the two companies sell the same cigarette brands, with Altria in the U.S. market and Philip Morris selling them in other international markets. Among their brands: the American cigarette icon Marlboro.
Reported by Benzinga