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Kraft says it hopes to be ready to go it alone 

But questions remain whether Altria will be able to proceed with the spinoff on schedule. Kraft was acquired by Philip Morris Cos., the former name of Altria Group, in 1988, making it the world's largest consumer products company. Kraft has been operating as a separate entity under the Altria umbrella since going public in June 2001.

Many legal experts expect an effort will be made to obtain an injunction blocking the spinoff by lawyers involved in the $200 billion Schwab tobacco class-action lawsuit still pending in New York.

"Everybody seems to think that it is going to be advantageous for them to seek the injunction," said Carl Tobias, a tobacco legal expert at the University of Virginia. Altria "may not be able to insulate Kraft from liability."

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