Philip Morris: confirms merger talks with Altria
(CercleFinance.com) - Philip Morris International on Tuesday confirmed that it is in talks about a potential all-stock "merger of equals" with US peer Altria Group.
PMI, which owns the Marlboro and Chesterfield brands and the smoke-free device IQOS, is responding to market rumours.
However, the company added that there was no certainty of a deal occurring.
Philip Morris' shares were down 3.8% on this news, while Atria shares were jumping, up over 10%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
PMI, which owns the Marlboro and Chesterfield brands and the smoke-free device IQOS, is responding to market rumours.
However, the company added that there was no certainty of a deal occurring.
Philip Morris' shares were down 3.8% on this news, while Atria shares were jumping, up over 10%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.