Altria to Acquire UST for $11.7 Billion

Altria Group said today it will acquire UST Inc. for about $11.7 billion, which puts two of the biggest tobacco brands, Marlboro and Skoal, under the same company. As a part of the transaction, Altria will gain control of St. Michelle wines as well.Altria will pay $69.50 per share in cash. Based on UST's three-month average stock price of $53.90, this offer represents a premium of 28.9% to UST's shareholders.Altria is the parent company of Philip Morris USA, the largest