Juul Closes Deal with Tobacco Giant Altria
The tobacco giant Altria, maker of Marlboro and other top-selling brands of cigarettes, has agreed to pay nearly $13 billion for a 35 percent stake in Juul Labs, the wildly popular vaping company that burst on the scene in 2015 with a mission to render cigarettes obsolete. To sweeten the deal, part of Altria’s investment…