By: Angela Garrity
The New York Times is reporting that Philip Morris and Altria are in talks for a merger in a bid for vaping. The deal would reunite the two after more than a decade of separation with their eye on the prize of dominating the e-cigarette market. If a merger occurs, it would bring a value of more than a $200 billion dollars to the standalone company.
Declining sales of cigarettes and mounting pressure to diversify have been fueled by merger speculation of analysts and experts for a while.
Any deal would need to be approved by the companies’ respective boards and shareholders, and would likely face stiff regulatory approval.
Read the full announcement here.