NJOY: Moving Beyond Smoking - Altria Closes NJOY Buyout, Reduces FY23 Adj. EPS Outlook

Altria Group Inc (NYSE: MO) completed the previously announced acquisition of NJOY Holdings, Inc. The $2.75 billion buyout included an additional $500 million in cash payments, contingent upon regulatory outcomes concerning certain NJOY products. Starting Q2 2023, Altria will report NJOY under "All Other" category. The company expects a final payment of $1.7 billion (plus interest) from Philip Morris International Inc (NYSE: Full story available on Benzinga.com