By Alexei Yaroshenko, Associated PressArticle By Alexey Zakharchenko, Associated NewsBy Alexei Saroyan, Associated ImagesAUSTIN, Texas (AP) The American Tobacco Centers of Texas is seeking to buy stable-bonded tobacco company Philip Morris United Corp. for $1,440 million.
Philip Morris United is one of the most prominent tobacco companies in the U.S. and the world.
It owns and operates some of the world’s biggest brands like Marlboro and Tab.
In addition to its U.N. sales, Philip Morris has grown into one of tobacco’s most powerful players in Europe.
Its holdings include Philip Morris International, which makes cigarettes, cigars and smokeless tobacco; Phillip Morris USA, which distributes cigarettes, cigarettes and smokefree tobacco; Philip Morris Australia, which sells cigarettes, smokes and tobacco products; and Phillip Morris New Zealand, which produces tobacco-infused chewing gum and cigarette butts.
In an announcement on Tuesday, the company said it plans to sell its stake in Philip Morris in the fourth quarter.
Philips, which was founded in England in 1798, has a market value of more than $60 billion.