Altria Group Inc. said it is preparing to end its noncompete agreement with vaping company Juul Labs Inc. The move would give Juul’s largest shareholder the flexibility to acquire another e-cigarette brand or develop its own new vaping products.
Ending the noncompete agreement would also give Juul the freedom to sell itself–or a significant stake–to one of Altria’s competitors. Altria, which makes Marlboro cigarettes, will still own a 35% stake in the e-cigarette maker.
