Hints and tips:
...US groups Philip Morris and PepsiCo earned $775mn and $718mn, respectively....
...He pointed to the US-centric nature of the FTSE 100 company’s business and the valuation gap between BAT and its US-listed peer Philip Morris International, where GQG is a top-10 shareholder, asking: “What...
Activist hedge fund stands to make about $150mn in profit from deal
...Jain’s argument focused on the fact that rival cigarette maker Philip Morris International, which GQG also owns a stake in, trades at a much higher earnings multiple....
...Analysts at Barclays said reducing leverage closer to two times was important for BAT as it sought to regain competitiveness against Philip Morris International, Altria and Imperial....
...Nonetheless, BAT’s writedown sent other tobacco stocks lower, with Philip Morris International’s share price falling by 1.6 per cent and Altria’s shares down 2.8 per cent in New York....
...Oliver Barnes 3. GSK Listing: London Like many other pharmaceutical companies, GSK generates almost half its sales in the US because of the country’s high drug prices....
...Japan Tobacco International, the biggest cigarette maker in Russia, has never promised to exit the country and Marlboro maker Philip Morris International previously told the FT it would “rather keep” its...
...Meanwhile, Marlboro maker Philip Morris International previously told the Financial Times it would “rather keep” its Russian business than sell on stringent Kremlin terms after initially vowing to leave....
...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...
...Reporting by Valentina Romei, Laura Onita, Sarah Neville, Stephen Morris, Sid Venkatarakrishnan, Oliver Barnes, Oliver Telling and Leke Oso Alabi...
...previously expressed frustration at BAT’s sluggish transition to reduced-harm products, such as vapes, which account for around 14 per cent of group revenues, compared with more than a third for US rival Philip Morris...
...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 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....
...They also highlighted the cigarette maker’s sluggish transition to vapes and heated tobacco products, which account for just a tenth of revenues, compared with more than a third of sales at rival Philip Morris...
...The former Philip Morris rebranded as Altria in 2003 and spun out its international operations as PMI in 2008....
...Neither Hick nor Morris responded to requests for comment....
...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...
...Marlboro maker Philip Morris International has announced plans to leave Russia but has yet to do so, while Japan Tobacco, which had a 40 per cent market share in the territory, has suspended new investments...
...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...
...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...
...Even tobacco giants Philip Morris International and British American Tobacco have hopped on the trend, launching their own versions....
...The FT’s Oliver Barnes joins me to talk about this. Hi, Oliver. Oliver BarnesHey, thanks for having me....
...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....
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