Bid & Ask: The Deals of the Week
Noteworthy expenditures of the week
This article is for subscribers only.
1. Marlboro cigarette maker Philip Morris International will buy back $18 billion in stock over the next three years. The program, to begin in August, follows a $12 billion repurchase plan started in 2010, which will end ahead of schedule.
2. Chesapeake Energy, the U.S. energy explorer facing a $22 billion cash shortfall because of falling natural gas prices, is selling its pipeline interests to Global Infrastructure Partners for more than $4 billion.