E-cigarette maker Juul Labs Inc is in early talks with three tobacco giants for a potential sale, strategic investment, licensing or distribution deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
A deal is not imminent and the discussions may not result in a sale or partnership, the people told the Journal.Juul reached late-stage talks with Altria last fall on a potential deal to sell its international business or license its U.S. intellectual property but the talks fell apart in September due to a potential bankruptcy filing, people familiar with the discussions told the Journal.
The once red-hot vaping company is currently facing thousands of lawsuits filed across the United States over claims that it deceptively marketed e-cigarettes and contributed to rising tobacco use amongst youth.preliminary court approval of a $255 million settlement resolving the claims by consumers.it was in the early stages of exploring options including financing alternatives amid the lawsuits.
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