By Denny Jacob

--Philip Morris International Inc. is set to gain European Union antitrust approval for its roughly $16 billion bid for Swedish Match AB after offering to sell the target's logistics business, Reuters reported, citing people familiar with the matter.

--The cigarette giant submitted the concession to the European Commission early this month, the report said.

--Philip Morris didn't immediately respond to a request for comment from Dow Jones Newswires.

Full story at https://www.reuters.com/markets/deals/exclusive-eu-okay-philip-morris-swedish-match-deal-after-asset-sale-offer-2022-10-24/

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 24, 2022 11:58 ET (15:58 GMT)

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