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20 October 2022 | Other

Best offer of Philip Morris to buy Swedish Match

Philip Morris International Inc

Philip Morris International Inc. made the "best and final" offer for Swedish Match, chewing tobacco maker. 

The Swiss-based company raised its bid from 106 Swedish crowns ($9.46) to 116 Swedish crowns a share. The company hopes that the new offer will help acquire the smokeless tobacco producer. With Swedish Match, the company will have access to a vast distribution network in the United States, the largest market for smoking alternatives. 

The value of the final bid is about $15.8 billion. 

According to Jacek Olczak, CEO Philip Morris International, the new offer is very attractive for both Swedish Match and Philip Morris shareholders. 

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