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US FTC dismisses complaint against Altria-Juul deal after Altria exited stake
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WASHINGTON (Reuters) — The U.S. Federal Trade Commission said on Monday it dismissed a complaint against Marlboro maker Altria Group (NYSE:MO) and e-cigarette maker Juul Labs that was brought after Altria's former acquisition of 35% of Juul.
Altria had exited the stake earlier this year and had asked the FTC to drop the challenge.
The company in March announced it had given up its 35% stake in Juul in exchange for licenses to some of Juul's intellectual property. As of December, its share of Juul was valued at $250 million, down from $12.8 billion in 2018.
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