What is the Market Smoking? Potential PMI-Altria Merger Makes a Lot of Strategic Sense
Update: 2025-09-23
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rankly, we do not understand the market's negative reaction to the news that Philip Morris International, or PMI, and Altria are in talks regarding a potential all-stock merger of equals. The 8% decline in the market value of PMI is particularly surprising, given the absence of a valuation premium, ....
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