SECOND TAKE: FT'S LEX
THE LEX COLUMN: A smokin’ merger proposal
Philip Morris International and Altria plan for reunification has benefits for both groups
Smokers bond by huddling together against the cold and discussing how to quit. It is the same with tobacco companies such as Philip Morris International and Altria, corporate pariahs in a health-conscious world.
On Tuesday, the groups said they were in talks to create a tobacco giant with a market value of more than $210bn. The merger proposal has merits for both sides.