Swedish Match recommends shareholders accept Philip Morris’ sweetened offer

This post was originally published on this site

(Reuters) – Tobacco company Swedish Match AB on Thursday recommended that shareholders accept Marlboro maker Philip Morris International Inc (NYSE:PM)’s raised buyout bid for the company.

Although Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share earlier this month and called that its “best and final price”, it had been met with some opposition from Swedish Match shareholders.