Swedish Match Agrees to $16 Billion Takeover by Philip Morris

Swiss Match AB said on Wednesday that its board had agreed to a cash offer of 161.2 billion Swedish krona, or $16 billion, from Philip Morris International Inc.

Under the proposal, subject to shareholder approval, investors in the Stockholm-based company would receive 106 Swedish krona in cash per share held. The price represents a 39% premium to the company’s share price of 76.50 Swedish krona on Friday, a day before The Wall Street Journal reported that the companies were in discussions.

https://www.wsj.com/articles/swedish-match-agrees-to-16-billion-takeover-by-philip-morris-11652252817?mod=pls_whats_news_us_business_f Swedish Match Agrees to $16 Billion Takeover by Philip Morris

Edmund DeMarche

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