Altria Group, Inc. (Altria) (NYSE: MO) and UST Inc. (UST) (NYSE: UST)
today announced that the Federal Trade Commission has granted early
termination of the initial waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 and therefore no further regulatory
review by the federal antitrust authorities is required in connection
with Altria’s acquisition of UST for $69.50
per share in cash.
Completion of the transaction remains subject to UST shareholder
approval and certain other customary closing conditions. UST is in the
process of scheduling a special shareholder meeting for on or about
December 4, 2008, during which UST’s
shareholders of record as of the close of business on October 23, 2008
will vote upon the proposed transaction. Details of the shareholder
meeting will be contained in the proxy statement which UST expects to
mail during the week of October 27th. If
approved and all other conditions to closing are satisfied, the
transaction is anticipated to close no later than January 7, 2009.
Altria Group, Inc. Profile
As of October 16, 2008, Altria owned 100% of each of Philip Morris USA
Inc. (PM USA), John Middleton Co. (Middleton) and Philip Morris Capital
Corporation. In addition, Altria held a 28.5% economic and voting
interest in SABMiller plc.
The brand portfolio of Altria’s tobacco
operating companies includes such well-known names as Marlboro, Parliament,
Virginia Slims, Basic and Black & Mild.
Trademarks and service marks related to Altria referenced in this
release are the property of, or licensed by, Altria or its subsidiaries.
More information is available about Altria at www.altria.com.
UST Inc. Profile
UST Inc. is a holding company for its principal subsidiaries: U.S.
Smokeless Tobacco Company and Ste. Michelle Wine Estates. U.S. Smokeless
Tobacco Company is the leading producer and marketer of moist smokeless
tobacco products including Copenhagen, Skoal, Red Seal
and Husky. Ste. Michelle Wine Estates produces and markets
premium wines sold nationally under 20 different labels including Chateau
Ste. Michelle, Columbia Crest, Stag’s
Leap Wine Cellars and Erath, as well as exclusively
distributes and markets Antinori products in the United States.
Trademarks and service marks related to UST referenced in this release
are the property of, or licensed by, UST or its subsidiaries.
