News Formal

Philip Morris and Altria end merger talks following chilly response from investors

  • 📰 CNBC
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 72%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Tobacco giants Philip Morris and Altria have ended merger talks. “Ultimately, we couldn’t come to terms,” Altria’s CEO said at the gtnf.

in the decade since the two split and cigarette smoking was losing favor among consumers.

The Marlboro maker's $12.8 billion investment in e-cigarette company Juul in December has soured as regulators including from U.S. and China ban its popular fruit-flavored pods from the market. Walmart, the nation's largest retailer, said last week it was going to stop carrying e-cigarettes altogether amid heightened regulatory scrutiny.

Philip Morris' stock jumped more than 6% Wednesday, bringing its market value to about $118 billion. Shares of Altria initially gained but were down 2.4% Wednesday afternoon, valuing the company at around $74 billion., now say they will focus on jointly launching IQOS, a heated tobacco product, in the United States.

Altria recently made investments that indicate plans to diversify beyond tobacco products. Its investment in Juul last year gave it a 35% stake in e-cigarette company. It's also invested in Canadian pot companyAn outbreak of a mysterious lung disease has hit the vaping industry. In a separate announcement Wednesday, embattled Juul saidwill replace Kevin Burns as CEO. As Altria's chief growth officer, Crosthwaite oversaw the company's expansion into heated tobacco products.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Why did they split in the first place?

generally stop producing this poison ... it probably burns oxygen per day comparable to gasoline cars

Tobacco companies need to be ostracized and their products pulled from the shelves. If vap cigs are bad so are cigarettes and alcohol.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Philip Morris International And Altria Call Off $200 Billion Merger
Källa: Forbes - 🏆 394. / 53 Läs mer »

Philip Morris and Altria end merger talksThe companies also said they would focus on jointly launching an only-heated tobacco product called IQOS.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Philip Morris, Altria call off mergerPhilip Morris International Inc has abandoned merger talks with Altria Group Inc... Could it be the impending storm of law suits and regulations No need to merge now that the vaping ban will be shoveling piles of money BACK to Philip Morris. Vaping bans should be awarded the cigarette salesman of the year award.
Källa: Reuters - 🏆 2. / 97 Läs mer »

Philip Morris, Altria call off mergerPhilip Morris International Inc has abandoned merger talks with Altria Group Inc... Could it be the impending storm of law suits and regulations No need to merge now that the vaping ban will be shoveling piles of money BACK to Philip Morris. Vaping bans should be awarded the cigarette salesman of the year award.
Källa: Reuters - 🏆 2. / 97 Läs mer »