Philip Morris Boosts Buyout Offer For Swedish Match

by Shivani Kumaresan, Benzinga Staff Writer
October 20, 2022 7:55 AM | 1 min read |
  • 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.
  • Also Read: Philip Morris Ends IQOS Commercial Partnership With Altria
  • Price Action: PM shares are trading higher by 1.64% at $87.89 in premarket on the last check Thursday.
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