The U.S. tobacco industry is set to get a major boost from a $4.7 billion buy-out by American Tobacco and other big tobacco giants.
The $1.4 billion deal, which will be finalized on Monday, will bring together the U.N. and the World Health Organization in a landmark agreement to prevent tobacco-related diseases and deaths in the United States.
It also will give the industry an array of new products and services that could help it fend off rivals such as Big Tobacco.
The deal will give American Tobacco $4,500 million to buy back its shares in American Tobacco Inc., the nation’s biggest tobacco company.
American Tobacco shares are up about 30% in the last week as investors were watching the deal to see if the company could be rescued.
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