Philip Morris Boosts Buyout Offer For Swedish Match

Philip Morris International Inc PM has raised its buyout offer for tobacco company Swedish Match AB SWMAF.
Philip Morris made an all-cash offer of SEK 106 per share for Swedish Match in May.
Philip Morris’ subsidiary, Philip Morris Holland Holdings B.V.(PMHH), increased the price of the offer to SEK 116 per share.
PMHH also said it would not further increase the price in the revised offer.
The price offered for the shares in the revised offer represents a premium of 52.5% compared to the closing share price of SEK 76.06 on May 9, 2022.
The total value of the revised offer amounts to approximately SEK 176.4 billion.
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Price Action: PM shares are trading higher by 1.64% at $87.89 in premarket on the last check Thursday.