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News analysis

PMI proceeds with Swedish Match offer despite falling short of take-up target

Written by || 8th November 2022 || News analysis | Major brands | GeographiesEurope Sweden

Philip Morris International (PMI) has confirmed that it will go ahead and accept all Swedish Match shares that have been tendered to it despite not achieving its 90% minimum stake threshold.

However, the company must still secure further shares in voluntary transaction during a new offer period if it is to achieve its goal of utilising cumpulsory purchase to acquire all remaining stakes in the Swedish company.

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Freddie Dawson

Senior news editor
Freddie studied at King’s College, London and City University and worked for publications including The Times, The Malay Mail, PathfinderBuzz and Solar Summary before joining the TobaccoIntelligence team. He has extensive experience in covering fast-moving consumer goods (FMCG), manufacturing and technological innovation.

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