Beyond cigarettes: Philip Morris lights up race with Swedish Match bid
Tobacco companies have scrambled over the past decade to find new markets as regulators crack down on cigarettes and more people quit smoking due to the health risks.
Philip Morris agrees to buy Swedish Match for $16 billion
The maker of Marlboros offered 106 kronor ($10.56) a share for the smaller business, it said in a statement, a premium of nearly 40% to Swedish Match’s closing price on Monday.
Philip Morris in talks to buy Swedish Match, maker of oral nicotine pouch products
The deal would accelerate the Marlboro-maker’s push beyond cigarettes and broaden its distribution network in the U.S. for reduced-risk products.
