Altria agreed to buy e-cigarette maker NJOY for $2.75 billion in cash as the Marlboro maker looks to strengthen its portfolio of smoke-free products.
The deal for privately held NJOY, one of the few e-cigarette makers whose products have clearance from federal regulators, includes an additional $500 million in cash contingent on certain regulatory outcomes.
Source: https://www.barrons.com/articles/altria-njoy-stock-price-acquisition-2f125590?siteid=yhoof2&yptr=yahoo