Altria Group to decide on spin off
The odds are seven in 10 that Altria’s board will decide to split off Philip Morris International after directors meet August 29, Filippe Goossens, a Credit Suisse analyst in New York, wrote in a note to investors last week.
“The best case is to spin Philip Morris International,” Cambiar Investors LLC President Brian Barish said on August 10. The Denver- based firm managed $10 billion (€7.4bn), including 3.1 million Altria shares, as of June.