Altria Buys 35 Percent Stake In E-Cigarette Maker Juul

Signs in a Chicago shop window advertise e-cigarettes and pods from Juul in September. Altria, the parent company of Philip Morris, announced Thursday it would buy a 35 percent stake in the company.

The $12.8 billion deal gives the parent company of Philip Morris a way to hedge its bets as U.S. cigarette smoking declines. And it gives Juul a powerful partner as it faces scrutiny over teen vaping.

(Image credit: Scott Olson/Getty Images)

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