Marlboro cigarette manufacturers Philip Morris International (PMI) and Altria are in talks about a $200bn re-merger, a decade after Altria spun off the PMI operation. Analysts have said the deal would give Altria’s 35%-owned e-cigarette operation Juul a global expansion partner. The companies had been discussing a tie-up since last year, but it was unclear whether they were close to finalising it. Altria makes Marlboro for the US market while PMI handles the rest of the world and sells Parliament and Virginia brands, along with e-cigarettes. Talk of the re-merger sent shares of competitor British American Tobacco down by 3%.
Marlboro cigarette manufacturers Philip Morris International (PMI) and Altria are in talks about a $200bn re-merger, a decade after Altria spun off the PMI operation. Analysts have said the deal would give Altria’s 35%-owned e-cigarette operation Juul a global expansion partner. They also said the re-merger could be on the cards because of cigarette sales falling by 4.5% globally in 2018. Altria makes Marlboro for the US market while PMI handles the rest of the world and sells Parliament and Virginia brands, along with e-cigarettes. Talk of the re-merger sent shares of competitor British American Tobacco down by 3%.