Altria Agrees To Acquire UST: Report
The cigarette maker agrees to chewing tobacco company UST for $10.3 billion, according to a media report.
The cigarette maker agrees to chewing tobacco company UST for $10.3 billion, according to a media report.
Altria Group
(MO) - Get Report
agreed to acquire
UST Inc.
(UST) - Get Report
for about $10.3 billion in cash, according to a published media report.
Under terms of the deal expected to be announced Monday, Altria plans to pay about $70 a share, the Wall Street Journal reports, citing people familiar with the matter. Shares of UST closed Friday at $67.55.
Altria owns Philip Morris USA, the largest U.S. cigarette maker and the producer of the Marlboro brand. UST makes Copenhagen and Skoal chewing tobacco.
This article was written by a staff member of TheStreet.com.
