Altria, a tobacco company, completed the acquisition of a 35% stake in Juul, a e-cigarette maker, for $12.8bn. The company was valued at $38bn. “We are taking significant action to prepare for a future where adult smokers overwhelmingly choose non-combustible products over cigarettes by investing $12.8bn in Juul, a world leader in switching adult smokers,” Howard Willard, Altria CEO.