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Philip Morris and Altria in merger talks as Marlboro fades and e-cigs light up

(Reuters) - Marlboro maker Philip Morris International Inc PM.N said on Tuesday it was in talks to reunite in a merger with Altria Group Inc MO.N following its 2008 spin-off, as the tobacco giants seek to pool resources in the fast growing e-cigarette market. The merger between the two companies, the biggest ever in the consumer sector and the fourth-largest deal of all time, would create a tobacco giant with a market capitalization of approximately $200 billion. It would come two years after British American Tobacco Plc BATS.L bought out Reynolds American Inc for $49 billion, underscoring how the decline in cigarette smoking globally is pushing tobacco companies to seek scale and pool resou... [Read more]

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