Altria Group prepares $2.75 billion acquisition of Njoy
Reuters reported that The Wall Street Journal, citing people familiar with the matter, said Altria Group is in advanced talks to acquire vaping startup Njoy Holdings for at least $2.75 billion. The deal could reportedly be announced as early as this week,
According to Reuters, the Wall Street Journal cited sources saying that Altria Group is in advanced talks to acquire the e-cigarette startup Njoy Holdings for at least $2.75 billion.
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The deal could be announced as early as this week, but negotiations could still fall through.<\/span><\/div>
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If regulatory requirements are met, the proposed deal includes an additional $500 million in earnings.<\/span><\/div>
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Prior to this potential deal, Altria decided to terminate its non-compete agreement with Juul Labs after nearly four years of owning a 35% stake in the company. Altria plans to divest its stake in Juul. As of December 31, Altria valued its stake at $250 million.<\/span><\/div>
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Reports indicate that in July, Njoy hired bankers to sell the company. The private company could be valued at up to $5 billion.<\/span><\/div>
