between Altria, a major Juul stakeholder, and Philip Morris International collapsed, with the two companies saying Wednesday that efforts to reach a deal had failed.
In a statement, Crosthwaite said he envisioned a future in line with Juul's founding mission to allow adult smokers to choose alternatives to smoking tobacco. Juul says it has stopped store sales of products with flavors other than tobacco and menthol, ended promotions on Facebook and Instagram, and enhanced online age verification while pushing for stronger rules to keep its products out of children's hands.
"While we believed the creation of a new merged company had the potential to create incremental revenue and cost synergies, we could not reach agreement," Altria chairman Howard Willard said in a statement.
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