Swedish Match Agrees to $16 Billion Takeover by Philip Morris
Under the proposal, subject to shareholder approval, investors in the Stockholm-based company will receive 106 Swedish krona in cash for each share held. The price represents a 39% premium to the company’s share price of 76.50 Swedish krona on Friday, the day before The Wall Street Journal reported that the companies were in talk. In the U.S.—Swedish Match’s largest market, followed by Scandinavia—the company’s ZYN nicotine-pouch brand dominates a market that includes rival offerings from
Altria…