Philip Morris International Confirms Potential Offer Discussions with Swedish Match AB
May 09 2022 - 1:12PM
Dow Jones News
By Denny Jacob
Philip Morris International Inc. on Monday confirmed discussions
with Swedish Match AB regarding a potential offer.
The tobacco giant said discussions are in progress and it is
uncertain whether an offer will be made. It added that it doesn't
intend to comment further on discussions unless and until it is
appropriate to do so.
The Wall Street Journal reported that Philip Morris
International is in advanced talks to acquire the Stockholm-based
company in a deal that could be valued at $15 billion or more as it
looks to bolster its exposure to the growing market for smoke-free
brands. It also reported that talks could yield a deal as soon as
this week, though they could still fall apart.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 09, 2022 12:57 ET (16:57 GMT)
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