Salem Radio Network News Wednesday, May 18, 2022

Business

Philip Morris launches $16 billion cash offer for Swedish Match

STOCKHOLM (Reuters) – Marlboro-maker Philip Morris International Inc said on Wednesday it was making a recommended cash offer to buy Swedish tobacco and nicotine products maker Swedish Match for 106 Swedish crowns per share.

The offer value for the Stockholm-listed company amounted to approximately 161.2 billion Swedish crowns ($16 billion), the company said in a statement.

($1 = 10.0381 Swedish crowns)

(Reporting by Niklas Pollard, editing by Anna Ringstrom)

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