Altria And Juul Defend $12.8B Purchase Agreement As 'Pro-Competitive' To FTC

Mealey's (July 31, 2020, 12:47 PM EDT) -- WASHINGTON, D.C. — Tobacco manufacturer Altria Group Inc. and e-cigarette maker Juul Labs Inc. argue in separate July 27 answering briefs to a Federal Trade Commission complaint accusing them of anti-competitive behavior that Altria's $12.8 billion acquisition of a 35 percent stake in Juul was a "pro-competitive" deal reached in response to market and regulatory pressures faced by both companies and was intended to benefit customers (In the Matter of Altria Group/JUUL Labs, No. 9393, FTC)....