Philip Morris in talks with Altria

Business

Philip Morris and Altria could merge 11 years after split

(FOX NEWS) – Cigarette makers Philip Morris and Altria are in talks to merge more than eleven years after splitting up.

Philip Morris confirmed Tuesday it is in discussions with Altria group regarding a potential merger.

Altria was spun off Philip Morris in 2008.

The company sells cigarettes in the United States while Philip Morris is focused overseas.

Analysts have long speculated the two companies would reunite as the tobacco industry rapidly changes with cigarette sales falling and companies searching for new avenues of growth.

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