EU to review Philip Morris' bid for Swedish matchstick company

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.

Statement

This article is compiled from third-party information and is intended for the purpose of industry exchange and learning.

This article does not represent the views of 2FIRSTS, and 2FIRSTS cannot confirm the truthfulness or accuracy of the content. The compilation of this article is solely intended for industry exchange and research purposes.

Due to limitations in the translator's ability, the translated article may not fully capture the original meaning. Please refer to the original text for accuracy.

2FIRSTS maintains complete alignment with the Chinese government regarding any domestic, Hong Kong, Macau, Taiwan, or foreign issues or positions.

The copyright of compiled information belongs to the original media and author. If there is any infringement, please contact us for removal.