Elliott Management Backs Philip Morris's $16B Swedish Match Buyout
Elliott Management Backs Philip Morris's $16B Swedish Match Buyout
埃利奧特管理層支持菲利普莫里斯以160億美元收購瑞典火柴
- 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(紐約證券交易所股票代碼：PM)將繼續以160億美元收購瑞典隊AB隊(場外交易：SWMAY)(場外交易：SWMAF)，儘管未能達到90%的錄取率。
- 萬寶路製造商已經獲得了這家瑞典公司82.59%的股份，低於可以開始強制購買剩餘股份的90%的水平。
- 公司最大的股東，埃利奧特管理公司據英國《金融時報》報道，該公司已決定支持這筆收購，使這筆交易的完成觸手可及。
- 埃利奧特已決定競購其10.5%的股份，將股東接受率推高至80%以上，併為收購掃清了道路。
- 另請閲讀： 菲利普莫里斯第三季度收益超出預期.
- 菲利普莫里斯的要約條件是在11月4日的最後期限前獲得90%以上的股東接受。不過，它也保留在較低接受程度上完成要約的權利。
- 菲利普莫里斯在5月份提出了每股106瑞典克朗的收購要約，然後在10月份提高到每股116瑞典克朗。
- 該公司還將接受期延長至11月25日。由於瑞典Match公司決定支付每股0.93瑞典克朗的股息，在進一步延長的接受期內投標的股票的報價將降至每股115.07瑞典克朗的現金。
- 價格行動：在週一的盤前交易中，PM的股價下跌了1.82%，至88.34美元。
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