Philip Morris announces merger talks with Altria Group

📆 2019/08/28 5:30:00

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Philip Morris says its talks with the Altria Group are at early stages so there can be 'no assurance' that an agreement would be reached.

📆 2019/08/28 5:30:00
📰 rapplerdotcom

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, and cannabis giant, and would reconnect the companies: Altria spun off Philip Morris International in 2008, and still owns Philip Morris USA.

Virginia-based Altria posted net earnings of nearly $7 billion in 2018, while Philip Morris took in $7.9 billion. The company recently received US regulatory approval to introduce IQOS, which heats tobacco but does not burn it. Altria plans to market IQOS in the United States as well.

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