Chicago - Altria Group Inc. has agreed to buy UST Inc. , the largest U.S. smokeless tobacco maker, for $10.4 billion in a deal that will combine the Marlboro cigarette and Skoal moist snuff brands.
Altria said on Monday it will pay $69.50 a share in cash and assume about $1.3 billion in debt to acquire UST, aiming to expand its own offerings from a shrinking U.S. cigarette market.
The price represents a 29 percent premium to UST's closing price on Thursday, the day before news of a possible deal between the sides broke in The New York Times. More... Nutty News - Cigarettes America Front Page News
Altria said on Monday it will pay $69.50 a share in cash and assume about $1.3 billion in debt to acquire UST, aiming to expand its own offerings from a shrinking U.S. cigarette market.
The price represents a 29 percent premium to UST's closing price on Thursday, the day before news of a possible deal between the sides broke in The New York Times. More... Nutty News - Cigarettes America Front Page News
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