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Marlboro owner invests $12.8 billion in e-cigarette maker Juul
Tobacco giant Altria (which owns Marlboro and Virginia Slims) has bought a 35 percent stake in Juul for $12.8 billion. The major deal pegs the e-cigarette company's valuation at $38 billion, which more than doubles its value since a previous investment in July. Altria will place Juul's products next to its cigarettes on retail shelves, and, pending antitrust approval, hold a third of Juul's board seats.
