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The revised offer values Swedish Match at nearly $15.8 billion.
“We believe the best and final price in our revised offer for Swedish Match provides very compelling value for the shareholders of both Swedish Match and PMI,” said Jacek Olczak chief executive officer of PMI.
Philip Morris made an all-cash offer of 106 crowns per share for the Stockholm-based group in May, seeking to expand in the fast-growing market for cigarette alternatives.
The company had earlier said that it was expecting EU antitrust approval for its Swedish Match bid in late October.
