Altria Group is in advanced talks to buy UST, known for its Skoal and Copenhagen smokeless tobacco brands, for more than USD 10 billion (EUR 6.91), the New York Times reported.
People involved in the deal plan to complete it as soon as Monday, the report said, adding the terms of a possible transaction were not known.
"We don't comment on any speculation that's out there," the paper quoted David Sylvia, Altria's director of media affairs, as saying.
UST is a holding company with an enterprise value of more than USD 8 billion, revenue of USD 1.9 billion and net earnings exceeding USD 500 million. The company's primary businesses manufacture and market moist smokeless tobacco products and premium wines through U.S. Smokeless Tobacco Company and Ste. Michelle Wine Estates. (pi)