Monday, December 3, 2007

Merry Chrsitmas Altria Shareholders

Altria's (MO) Phillip Morris USA received $1.2 billion in funds held in an escrow account under the bond stipulation in the Engle smoking and health class action in Florida today.

PM USA also said that it will immediately seek the discharge of a $100 million appeal bond in the same case.

$1.2 billion will repurchase a whole bunch of shares after the PMI spin is complete.

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