Philip Morris International confirms it’s in merger talks with Altria

Philip Morris International is in discussions with Altria about a possible all-stock, merger of equals, the tobacco giant announced Tuesday.

A deal, if one is reached, would reunite Philip Morris International and Altria more than a decade after the two companies split. Altria spun off PMI in 2008 and has remained a largely U.S.-focused company, selling Marlboro cigarettes domestically while PMI has focused on selling cigarettes overseas. 

Analysts have long speculated the two companies would come back together. PMI in a press release cautioned there is “no assurance that any agreement or transaction will result from these discussions. Additionally, there can be no assurance that if an agreement is reached, that a transaction will be completed.” 

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