Altria announced that it is in discussions with Philip Morris International (PMI) regarding a potential all-stock, merger of equals, the company said.

Altria, which spun off PMI in 2008, said that there can be no assurance that any agreement or transaction will result from these discussions. Additionally, there can be no assurance that if an agreement is reached, that a transaction will be completed. Any transaction would be subject to the approval of the two companies’ boards and shareholders, and regulators, as well as other conditions. According to the press release, Altria intends to make no further comment regarding the discussions unless and until it is appropriate to do so.