Altria Group Inc. said yesterday that it has closed its purchase of UST Inc., a smokeless-tobacco company.
The transaction was valued at $10.4 billion, plus the assumption of $1.3 billion in debt. The deal gives UST shareholders $69.50 for each share.
UST becomes a subsidiary of Altria, the owner of the No. 1 U.S. cigarette-maker, Philip Morris USA.
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