Altria Group (NYSE:MO) is in talks to reunite with Philip Morris International (NYSE:PM), sending MO stock 3% into the red.
The two tobacco heavyweights split almost a decade ago as a result of languishing MO shares and heavy pressure from regulatory bodies over tobacco’s role in contributing to cancer. Bonnie Herzog, an analyst at Wells Fargo, stated in 2016 that it would make sense for Philip Morris to reunite with its former parent company, and two years later it has been confirmed that these plans are materializing. The combined market value of both firms is in ...
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