| Your personal background. |
|---|
 The maker of Marlboro cigarettes will snap
up the Swedish manufacturer of smoke-free tobacco products for £14billion after
Elliott Management backed the deal.
Philip Morris International will take control of Swedish Match, having secured approval from 83 per
cent of its shareholders.
 Activist investor Elliott had built a 10.5
per cent stake in the Stockholm-based business and
initially opposed the offer.
[img][/img]
Buyout: Philip Morris International will take control
of smoke-free tobacco firm Swedish Match, having secured
approval from 83% of its shareholders
But it is now believed to have offered up its shares to Philip Morris, paving the way for the
takeover to proceed.Â
Swedish Match makes alternatives to cigarettes, including
snus, a tobacco product placed between the upper lip and gum.
The business also sells tobacco-free nicotine pouch Zyn.
Philip Morris is picking up the business as it looks to move away from cigarettes to so-called next generation products to create a ‘smoke-free future'.Â
Buying Swedish Match will also give it a foothold in the
smoke-free tobacco market in the US, where the Swedish firm is a major player.
RELATED ARTICLES
Previous
1
Next
[img][/img] ALEX
BRUMMER: Big changes in Washington will result in big... [img][/img] 'Appalling' lack
of women in top jobs: Anger over lack of... [img][/img] North Sea group Ithaca Energy
valued at £2.5bn ahead of its... [img][/img] Apple warns of Christmas iPhone shortages after Covid...
Share this article
Share
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing platform
DIY INVESTING PLATFORMS
[url=]
Stocks & shares Isa
[img][/img]
Stocks & shares Isa
Easy investing
Capital at risk. Isa rules & T&Cs apply.[/url] [url=]
Investment ideas
[img][/img]
Free fund dealing
Free fund dealing
0.45% account fee capped for shares[/url] [url=]
Flat-fee investing
[img][/img]
No fees
£9.99 monthly fee
One free £7.99 trade per month[/url] [url=]
Social investing
[img][/img]
Commission-free
Share investing
24+ million global community[/url] [url=]
Model portfolios
[img][/img]
Investment account
Free fund dealing
Free financial coaching[/url]
Affiliate links: If you take out a product This is Money may
earn a commission. This does not affect our editorial independence.
[url=]> Compare the best investing platform for you[/url]
Here is my page ... Bostadsportal |
| Your feedback on this profile |
|---|
| Recommend this profile for User of the Day: |
I like this profile |
| Alert administrators to an offensive profile: |
I do not like this profile |
|
| Account data |
View |
| Team |
None |
|
