Elliott Management Backs Philip Morris's $16B Swedish Match Buyout
Elliott Management Backs Philip Morris's $16B Swedish Match Buyout
埃利奥特管理层支持菲利普莫里斯以160亿美元收购瑞典火柴
- Philip Morris International Inc (NYSE:PM) is going ahead with its $16 billion takeover of Swedish Match AB (OTC: SWMAY) (OTC: SWMAF) despite failing to achieve the 90% acceptance rate.
- Marlboro maker had secured 82.59% of the Swedish company, short of the 90% level at which it can start a compulsory purchase of remaining shares.
- The company's largest shareholder, Elliott Management, has decided to back the takeover, putting the deal's completion within reach, Financial Times reported.
- Elliott had decided to tender its 10.5% stake, pushing shareholder acceptances above 80% and clearing the path to the takeover.
- Also Read: Philip Morris Q3 Earnings Top Estimates.
- Philip Morris had made its offer conditional on achieving more than 90% of shareholder acceptances by a deadline of November 4. Still, it also reserves the right to complete the offer at a lower level of acceptance.
- Philip Morris made a SEK 106 per share offer to buy Swedish Match in May and then raised it to SEK116 per share in October.
- The company has also extended the acceptance period until November 25. The price in the offer for shares tendered during the further extended acceptance period will be reduced to SEK 115.07 in cash per share due to the resolved dividend payment by the Swedish Match of SEK 0.93 per share.
- Price Action: PM shares are down 1.82% at $88.34 during the premarket session on the last check Monday.
- 菲利普莫里斯(纽约证券交易所股票代码：PM)将继续以160亿美元收购瑞典队AB队(场外交易：SWMAY)(场外交易：SWMAF)，尽管未能达到90%的录取率。
- 万宝路制造商已经获得了这家瑞典公司82.59%的股份，低于可以开始强制购买剩余股份的90%的水平。
- 公司最大的股东，埃利奥特管理公司据英国《金融时报》报道，该公司已决定支持这笔收购，使这笔交易的完成触手可及。
- 埃利奥特已决定竞购其10.5%的股份，将股东接受率推高至80%以上，并为收购扫清了道路。
- 另请阅读： 菲利普莫里斯第三季度收益超出预期.
- 菲利普莫里斯的要约条件是在11月4日的最后期限前获得90%以上的股东接受。不过，它也保留在较低接受程度上完成要约的权利。
- 菲利普莫里斯在5月份提出了每股106瑞典克朗的收购要约，然后在10月份提高到每股116瑞典克朗。
- 该公司还将接受期延长至11月25日。由于瑞典Match公司决定支付每股0.93瑞典克朗的股息，在进一步延长的接受期内投标的股票的报价将降至每股115.07瑞典克朗的现金。
- 价格行动：在周一的盘前交易中，PM的股价下跌了1.82%，至88.34美元。
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