IN BRIEF (Page 17)
China Daily | Updated: 2008-09-09 07:56
Snuff maker snapped up
Altria Group Inc, the maker of Marlboro cigarettes, agreed to buy UST Inc for $10.3 billion to become the largest US producer of smokeless tobacco.
The purchase, valued at $69.50 a share, won't affect Altria's full-year profit forecast, the Richmond, Virginia- based company said yesterday in a statement. UST gained 25 percent in New York trading on Sept 5 following reports that Altria would bid for the maker of Skoal snuff.
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