Proving the recent speculations right, Philip Morris International Inc. (NYSE: PM) made a public offer to acquire Swedish Match AB (GB:0GO4) for cash valued at Swedish Krona (SEK) 106 per share for a total consideration of SEK 161.2 billion (equivalent to $16 billion). Notably, the board of Swedish Match recommended its shareholders accept the bid of SEK 106 per share, which is supported by a fairness opinion provided by SEB Corporate Finance. Through the deal, Philip Morris International aims to expand into alternative tobacco products and boost its exposure to the rapidly growing market for smoke-free products amidst heightened global scrutiny and regulations on the sale of traditional cigarettes.
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