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Monday, 3 June 2019

Altria stock boosted by news of acquisition of nicotine pouch business On! - MarketWatch

Altria stock boosted by news of acquisition of nicotine pouch business On!  MarketWatch

By Ciara Linnane Deal gives the company foothold in rapidly growing oral tobacco-derived nicotine product market Getty Images Altria Group Inc. shares rose Monday after the tobacco giant said it has reached a deal with privately held Swiss company Burger Sohne Holding AG that will give it an 80% stake in a nicotine pouch business. Altria (MO) will pay $372 million for the stake that will allow it to commercialize the oral tobacco-derived nicotine (TDN) pouch product On! around the world. Nicotine pouches are a new form of oral tobacco product that are similar to Snus, a powder tobacco prod...



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