Altria (MO) Calls Reports of UST (UST) Bid "Pure Speculation"
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According to a report from the Associated Press, Altria Group (NYSE: MO) is calling reports that they are in advanced talks to acquire UST (NYSE: UST) "pure speculation." This as analysts say the deal makes perfect sense.
Shares of UST are up 22% today following reports in the New York Times Altria could buy UST for more than $10 billion.
According to the AP, Altria spokesman David Sutton said, "There's nothing to say. It's pure speculation from our perspective at this point. As a matter of policy, we don't comment on speculation of this kind."
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