Both Philip Morris and Imperial Tobacco could face antitrust issues if they did the deal.
He went on to say that "none of the challenges" of Imperial Tobacco were well-founded.
Introduction of the measure had been delayed because of a legal challenge by manufacturer Imperial Tobacco, which was defeated.
Philip Morris International competes with British American Tobacco, Japan Tobacco and Imperial Tobacco Group plc in its various geographical segments.
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Scottish Liberal Democrat leader Willie Rennie said the Supreme Court's "rejection of Imperial Tobacco's argument is good for health in Scotland".
Both Philip Morris and Imperial Tobacco (nyse: ITY - news - people ) could face antitrust issues if they did the deal.
Scottish Labour's Richard Simpson said he was delighted that the "last ditch and desperate appeal" by Imperial Tobacco had been "thrown out" by the Supreme Court.
Sonia Stewart, spokesperson for Imperial Tobacco, added that "the legislation will make the counterfeiters' job both cheaper and easier by mandating exactly how a pack must look".
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Among non-U.S. firms Adelman thinks Imperial Tobacco is a winner.
West is part of the Imperial Tobacco group.
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There are currently only two FTSE 100 companies - Burberry and Imperial Tobacco - with female chief executives, after Cynthia Carroll left mining giant Anglo-American and Dame Marjorie Scardino retired from the top job at media firm Pearson last year.
The newly independent Philip Morris International sells tobacco products in the international markets while Altria maintains its operations in the US. Philip Morris International competes with British American Tobacco , Japan Tobacco and Imperial Tobacco Group plc in its various geographical segments.
Although the Supreme Court has ruled in favour of Imperial, Sumatra Tobacco has launched an appeal.
Higher excise taxes in those countries have pushed consumers downscale, a boon for Imperial, which sells cheaper, roll-your-own tobacco products.
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