Hints and tips:
...Elliott Management, the biggest shareholder in Swedish Match, has decided to back Philip Morris’s $15.7bn offer for the smokeless tobacco specialist, putting completion of the deal within reach, according...
...Additional reporting by George Steer in New York, George Hammond in San Francisco and Philip Stafford in London...
...She has advised on deals including Philip Morris International’s acquisition of the smokeless tobacco company Swedish Match, and the £4bn purchase of UK department store Selfridges by Thai conglomerate Central...
...The chief executive of Philip Morris International says the maker of Marlboro cigarettes is charting a path to becoming an ESG stock as part of a push to win back investors that have shunned the stock because...
...The companies do not invest heavily internally and they devote basically all their free cash flow in dividends and share buybacks (Philip Morris, Altria and British American have dividend yields of 6, 10...
...Olczak said he would “very likely” request a buyback clause if Philip Morris does sell its Russian assets, providing a chance to return if the war ends....
...Philip Morris International, the maker of Marlboro cigarettes, triumphed in tit-for-tat bidding against private equity group Carlyle to buy Vectura, a UK-listed maker of inhaled medicines, including treatments...
...Philip Morris was part of a joint $206bn settlement with three other tobacco companies. PMI was spun out of Altria, the rebranded version of Philip Morris, in 2008....
...Companies still present in Russia include Italy’s UniCredit, Austria’s Raiffeisen, Switzerland’s Nestlé, the UK’s Unilever and the US’s Philip Morris International and PepsiCo....
...Philip Morris can lower its acceptance threshold, or raise its offer, until October 21....
...The former Philip Morris rebranded as Altria in 2003 and spun out its international operations as PMI in 2008....
...Why was Boris Johnson forced to resign as UK prime minister after being accused of throwing parties during lockdown, yet the boss of Philip Morris International can claim without blushing that the tobacco...
...Philip Morris International has raised its offer for Swedish Match by almost 10 per cent, caving to pressure from activist hedge funds in a last-ditch effort to complete the takeover of the smokeless tobacco...
...Hedge fund Elliott Management has upped its stake in Swedish Match to more than 10 per cent, giving it the power to determine the outcome of Philip Morris International’s $16bn takeover offer for the smokeless...
...Juul executives have sounded out tobacco companies including Japan Tobacco and Philip Morris International in recent months about a possible investment, sale or licensing agreement, according to people briefed...
...This month, Altria also exited a partnership with Philip Morris that gave it US commercialisation rights for IQOS, a line of e-cigarettes. PMI paid $2.7bn to regain the rights....
...PMI is Marlboro cigarette-maker Philip Morris International. And he was right: they were surprised....
...That is better than the 40 per cent Philip Morris achieved. Even so, a limited exposure to contentious vaping has helped Philip Morris outperform slightly....
...Philip Morris International has struck a $16bn deal to buy Swedish Match, as the tobacco company makes its biggest bet yet on alternatives to cigarettes....
...Philip Morris International is nearing a deal to acquire European rival Swedish Match for about $16bn including debt, as the tobacco group bets on the rapidly growing market for cigarette alternatives....
...MSCI USA Multifactor will become US Equity Factor and track the Stoxx US Equity Factor index rather than the MSCI USA Diversified Multiple-Factor index....
...That is less than half Philip Morris, which has a heated tobacco business and is buying chewing tobacco and nicotine pouch maker Swedish Match. Even with Juul’s problems, Altria stock now looks cheap....
...The chief executive of Philip Morris International has said the two houses of Marlboro will not be reunited, telling the Financial Times that PMI will no longer pursue a combination with fellow tobacco group...
...The UK’s British American Tobacco expects its non-combustible business to turn a profit by 2025, while at Marlboro maker Philip Morris International almost a third of revenue comes from these products....
International Edition