Jump to full article: CNN, 2009-01-06
Author: DOW JONES NEWSWIRES
Intro: Altria Group Inc. (MO) on Tuesday completed its $10.4 billion acquisition of UST Inc. (UST), after lenders requested that the closing take place in early 2009.
The delay, requested in October, reflected turmoil in the credit markets and not the fundamentals of the tobacco industry, an analyst said at the time.
Holders of smokeless-tobacco producer UST's common shares will receive $69.50 a share in cash. UST's common shares will no longer trade on the New York Stock Exchange.
Under the deal, Altria also will assume $1.3 billion of UST debt.
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