According to a report from Reuters citing documents submitted by the European Commission on September 6th, the European antitrust regulatory agency will review the $16 million bid by Philip Morris International for Swedish Match by October 11th.
At the conclusion of the review, the European Union's competition enforcement agency may approve a transaction with or without remedies, or if it has significant concerns, it may undertake a four-month investigation.
In August, PMI extended the acceptance period for its tender offer from September 10th to October 21st, as there were indications that European regulatory authorities needed more time to review the proposed acquisition.
This multinational company has announced that it has received approval from other well-known regulatory bodies, including those in the United States and Brazil.
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