
Philip Morris’ chief has said the two houses of Marlboro will not be reunited, telling the Financial Times that PMI will no longer pursue a combination with fellow tobacco group Altria.
Jacek Olczak said at the Financial Times Global Dealmaking Summit on Tuesday, November 9, that the “chapter with Altria is closed,” when asked about reviving merger talks between the two tobacco giants, which last took place in 2019.
Instead, Olczak said he was focused on expanding PMI’s “pharmaceutical and therapeutic” knowledge and suggested the group may move into the cannabidiol (CBD) market.
Since taking over as chief in May, Olczak has won a battle against private equity group Carlyle to secure a £1 billion (US$1.35 billion) takeover of UK inhaler company Vectura. He said that opposition to the Vectura deal from the UK’s health and science community “was a bit of a surprise.”
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UFC Reaches $375 Million Settlement in Antitrust Case
Feb 6, 2025 by
CPI
Brazilian Architecture Council Convicted of Antitrust Violations
Feb 6, 2025 by
CPI
Bipartisan Bill Seeks to Ban Chinese AI Software from US Government Devices
Feb 6, 2025 by
CPI
Senators Call for Investigation into RealPage Algorithm’s Impact on Military Housing Costs
Feb 6, 2025 by
CPI
ECB Seeks Faster Digital Euro Legislation Amid US Stablecoin Push
Feb 6, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon