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Altria completes $11.7 billion acquisition of UST
By Lisa Kerner
Charlotte, N.C., Jan. 6 - Altria Group, Inc. announced it acquired UST Inc. for $11.7 billion, including the assumption of $1.3 billion of debt.
In September, Altria agreed to acquire all outstanding shares of UST for $69.50 each.
Based in Stamford, Conn., UST is a holding company for U.S. Smokeless Tobacco Co., a producer and marketer of moist smokeless tobacco products. The company's common stock no longer trades on the New York Stock Exchange.
Altria, located in Richmond, Va., manufactures and sells cigarettes and other tobacco products. It is the parent company of Philip Morris USA.
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