Philip Morris International Inc.
said Tuesday it is in talks with Altria Group Inc.
on a potential all-stock merger of equals. The news sent Altria’s stock up 9.3% in premarket trade, while Philip Morris stock fell about 3%. “There can be no assurance that any agreement or transaction will result from these discussions,” Philip Morris cautioned in a statement. The company said it will not make any further comment regarding the negotiations until it is appropriate to do so. Altria shares have fallen 4.6% in 2019 through Monday, while the Dow Jones Industrial Average
which counts it as a member, has gained 11% and the S&P 500
has gained 15%.
Go to Source