PMI raises the takeover stakes with its ‘best and final’ offer for Swedish Match

Philip Morris International (PMI) has raised its public offer for its European rival Swedish Match from SEK106 ($9.52) to a final price of SEK116 ($10.42) per share in a bid to finalise its takeover of the smokeless tobacco specialist. The total bid now amounts to around SEK176bn ($15.8bn).

PMI chief executive Jacek Olczak said it was the company’s “best and final price”. If accepted by holders accounting for 90% of Swedish Match shares before 4th November, the transaction would then be expected to close by the end of this year.

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Antonia Di Lorenzo

Assistant news editor/senior reporter
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.

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