Philip Morris International is in talks to buy Swedish Match, a $12 billion maker of chewing tobacco. A potential big acquisition by the maker of Marlboro puts a double spin on the idea of defensive dealmaking, writes dasha_reuters:
Philip Morris International is in discussions with Swedish Match about a potential offer for the company, the maker of Marlboro cigarettes said on May 9 after the Wall Street Journal reported the news.
The deal could value Swedish Match, which makes chewing tobacco and oral tobacco pouches known as snus, at about $15 billion or more and a deal could materialise within a week, the WSJ said.Packs of Marlboro cigarettes are displayed for sale at a convenience store in Somerville, Massachusetts July 17, 2014.
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