E-cigarette brand Juul has overcome internal opposition to agree a $12.8bn investment by Marlboro owner Altria at a $38bn valuation.

Cigarette manufacturer Altria Group paid $12.8bn for a 35% stake in  e-cigarette maker Juul Labs yesterday, valuing the company at $38bn. The transaction will give hedge fund manager and Juul investor Tiger Global Management a $1.6bn dividend, according to Bloomberg, which stated that Juul’s employees are set to receive some $2bn through the deal. Juul…

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