29 September 2022 | Other

Philip Morris is not planning to withdraw its $16 billion offer for Swedish Match

The organization's CEO said that Philip Morris International is not going to withdraw its offer to buy Swedish Match, despite the worsening state of the global economy. The company also has other options under discussion, one of which is to acquire a majority stake.

Marlboro maker Philip Morris in May offered to buy the Stockholm-based company, betting on the fast-growing alternative cigarette market.

Jacek Olczak, CEO of Philip Morris, finds the offer even more attractive, due to changes in international macroeconomic conditions that have occurred since the initial offer.

According to Euromonitor International, about half of the global market for snus, the moist and smokeless Swedish snuff, is controlled by Swedish Match. The organization is also the leader in nicotine sachets.

Company MarketCheese
Period: 30.09.2026 Expectation: 13000 pips
Go long on Brent crude with $99.50 target
Today at 12:02 PM 11
Expectation: 1200 pips
SPX sell-off targets 7,500
Today at 12:02 PM 10
Period: 02.10.2026 Expectation: 3300 pips
Buy NVIDIA stocks on earnings release
Today at 08:20 AM 14
Gold buy
Period: 30.09.2026 Expectation: 13000 pips
Go long on gold with $4,560 target
Today at 06:44 AM 16
Period: 02.10.2026 Expectation: 3300 pips
Invest in USDCAD ahead of BoC meeting
Today at 06:38 AM 16
Period: 01.10.2026 Expectation: 6200 pips
Invest in Bitcoin up to $85,000
Yesterday at 10:26 AM 34
Go to forecasts