The Washington Post

Altria Group


said on Monday it would buy start-up NJOY Holdings for about $2.75 billion in cash, in a fresh bet by the Marlboro maker on the e-cigarette market after losing billions through its investment in Juul. Big Tobacco firms are investing heavily in traditiona­l cigarette alternativ­es as smoking rates decline globally, but the e-cigarette category has faced tough regulatory scrutiny over underage usage and health concerns.

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