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Article: Breakup of Philip Morris, Kraft foods imminent, Altria says.
- Article from:
- Newsday (Melville, NY)
- Article date:
- April 29, 2005
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Byline: Monty Phan
Apr. 29--Altria Group Inc., owner of cigarette maker Philip Morris and Kraft Foods, reiterated at its annual shareholders meeting yesterday that a breakup of the company is imminent, dependent upon a more favorable environment regarding its involvement in tobacco-related litigation.
Manhattan-based Altria first discussed the possibility of breaking into two or three companies at an investor and analyst conference in November. Yesterday, at the company's annual meeting in East Hanover, N.J., chairman and chief executive Louis Camilleri said Altria is pleased with the "positive trend" in favorable legal decisions regarding litigation ...