Swedish Match shareholders asked to accept PMI’s $16bn takeover bid

The board of Swedish Match has asked shareholders of the Scandinavian nicotine pouch maker to accept a $16bn takeover offer from tobacco giant Philip Morris International (PMI).

The bid, made by PMI affiliate Philip Morris Holland Holdings (PMHH), was confirmed on 11th May after initially being reported in financial media. The Swedish Match board has now also released a statement recommending its shareholders accept the offer.

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