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Philip Morris to Raise Its Offer for Swedish Match, WSJ Says

  • Tobacco company also agree to pay $2.7 billion for IQOS rights
  • Hedge funds have pressured Philip Morris to sweeten offer
Tins of Swedish Match AB General snus smokeless tobacco.

Tins of Swedish Match AB General snus smokeless tobacco.

Photographer: Ramin Talaie/Bloomberg
Updated on

Philip Morris International Inc. is poised to raise its offer for Swedish Match AB, the Wall Street Journal reported. Separately, Altria Group Inc. said Philip Morris agreed to pay $2.7 billion for the US rights to sell its IQOS device. 

The new offer for Swedish Match, a smokeless tobacco company, will come as soon as Thursday, the Journal reported, citing unidentified people familiar with the matter.