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US Trade Watchdog Sues Over $13 Bn Altria-Juul Vaping Deal

Monday, April 13th, 2020

US Trade Watchdog Sues Over $13 Bn Altria-Juul Vaping Deal

The usa trade watchdog said Wednesday it had sued Altria and Juul over a $12.8 billion e-cigarette deal which presumably breached antitrust regulations.

Based on the Federal Trade Commission (FTC), the firms made a string of agreements that eradicated competition surrounding tobacco giant Altria’s acquisition of the 35 per cent stake in Juul, the once high-flying vaping brand name.

“for quite a while, Altria and Juul were competitors searching for closed-system e-cigarettes,” the FTC said in a declaration announcing it had filed an administrative issue against the set.

“By the conclusion of 2018, Altria orchestrated its exit through the e-cigarette market and became Juul’s largest investor,” included Ian Conner, through the FTC’s bureau of competition.

“Altria and Juul switched from rivals to collaborators through the elimination of competition and sharing in Juul’s earnings.”