Skip to content

PMI Weighs Lowering Swedish Match Acceptance Threshold

  • Tobacco company studies ways to clinch $16 billion takeover
  • Activist investor Elliott plans to oppose current deal terms
Updated on

Philip Morris International Inc. is considering lowering the acceptance threshold on its $16 billion takeover bid for smokeless tobacco company Swedish Match AB, people with knowledge of the matter said. 

The Marlboro maker is studying the potential move as it seeks ways to increase the likelihood the acquisition will go through amid opposition from shareholders including Elliott Investment Management, the people said, asking not to be identified because the information is private. Philip Morris will likely decide in the next few weeks whether to make any changes to the deal conditions, the people said.