NEW YORK -- Altria Group Inc. has announced that it has completed the acquisition of UST Inc. The transaction is valued at approximately $11.7 billion, which includes the assumption of approximately $1.3 billion of debt.
As a result of the closing of the transaction, shareholders of UST common stock are entitled to receive $69.50 per share in cash for each share of common stock held as of today, January 6, 2009. Additionally, UST common stock no longer trades on the New York Stock Exchange.
Registered UST shareholders will receive information from Computershare, the [image-nocss] paying agent, regarding the cash payment for their shares of UST common stock. UST shareholders who held shares of common stock through a broker or bank will receive information directly from their broker or bank regarding the cash payment for their shares of UST common stock.
New York City-based Altria owns 100% of each of Philip Morris USA Inc., U.S. Smokeless Tobacco Co., John Middleton Co., Philip Morris Capital Corp. and Ste. Michelle Wine Estates Ltd. In addition, as of January 6, 2009, Altria held a 28.5% economic and voting interest in SABMiller plc.
The brand portfolio of Altria's tobacco operating companies includes such names as Marlboro, Copenhagen, Skoal and Black & Mild.
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