NEW YORK (CNN/Money) -
Philip Morris confirmed Friday it's in talks with South African Breweries about a possible sale of Miller Brewing Co.
The U.S. company said there's no certainty that the talks would lead to an agreement, and added that it plans no further comment.
Philip Morris (MO: Research, Estimates)' announcement follows a Thursday acknowledgment from SAB that it is in talks with a number of third parties regarding the beer industry's consolidation, including talks with Philip Morris concerning Miller. In its press release, Philip Morris quoted extensively from SAB's announcement before tersely providing its own confirmation of the talks.
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SAB said its announcement was in response to press "speculation" concerning the transaction. The Wall Street Journal, citing people close to the deal, said on Wednesday SAB wants to buy Miller for $5 billion in cash and stock.
In Friday's trading, Philip Morris shares fell by less than 1 percent to close at $52.67.
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