- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
CMSC | 0.16% | 24.76 | $ | |
NGG | 0.51% | 70.03 | $ | |
RELX | -0.13% | 47.398 | $ | |
GSK | -1.14% | 40.42 | $ | |
RIO | -0.27% | 70.98 | $ | |
CMSD | 0.24% | 24.84 | $ | |
RBGPF | 4.79% | 63.86 | $ | |
AZN | 1.03% | 78.72 | $ | |
RYCEF | -0.14% | 7.04 | $ | |
BCC | -0.16% | 140.76 | $ | |
BTI | -0.44% | 36.42 | $ | |
JRI | -1.07% | 13.525 | $ | |
BCE | 0.22% | 34.875 | $ | |
BP | 2.09% | 32.06 | $ | |
VOD | -0.75% | 9.945 | $ | |
SCS | -1.73% | 13.26 | $ |
Philip Morris in talks to buy Swedish Match
Tobacco giant Philip Morris International is in talks to acquire Swedish Match, the companies said Monday, in a deal that would boost its smokeless offerings.
While they confirmed the negotiations, first reported by The Wall Street Journal, both companies said there was no guarantee of a transaction. The Journal described the negotiations as "advanced talks" and said the deal could be valued at $15 billion or more.
Philip Morris, which sells cigarette brands such as Marlboro and Chesterfield in 180 markets outside the United States and has invested billions of dollars since 2008 in vapor products, oral nicotine and other "reduced-risk" products, said the talks were "in progress," according to a statement.
"It is uncertain whether an offer will be made," Philip Morris said. "PMI intends to make no further comment regarding the discussions unless and until it is appropriate to do so."
Stockholm-based Swedish Match derives more than 65 percent of its revenue from smoke-free products, including chewing tobacco and nicotine pouches.
The company's noted "recent speculation and confirms that discussions with Philip Morris International regarding a possible public takeover offer for Swedish Match are ongoing," the statement said
"There can be no certainty than an offer will be made, nor as to the terms of any such potential offer."
Shares of Swedish Match dipped 0.6 percent in Stockholm, while Philip Morris international gained 2.5 percent in afternoon trading.
L.K.Baumgartner--CPN