LONDON (ShareCast) - (Sharecast News) - Tobacco companies Altria and Philip Morris International confirmed on Tuesday that they are in talks about a potential all-stock merger of equals.
"There can be no assurance that any agreement or transaction will result from these discussions," they each said in a statement. Any deal would be subject to the approval of both companies' boards and shareholders, and regulators.

The companies both said that they intend to make no further comment regarding the discussions unless and until it is appropriate to do so.

At 1435 BST, Altria shares were up 8.7% at $51.18 and Philip Morris shares were down 7.2% at $72.10.

In a note released before the merger talks were confirmed, RBC Capital Markets said that given the changing global consumption/regulatory landscape, it would make strategic sense for the Marlboro, IQQS and JUUL brands to have a unified global strategy run by one company.

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