Philip Morris Stock Price, News & Analysis

On May 11, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), announced a public offer for all shares of Swedish Match AB. The offer, declared unconditional on November 7, 2022, led to PMHH acquiring 93.11% of Swedish Match shares by the end of the extended acceptance period. The final share price was adjusted to SEK 115.07 due to a dividend payment. PMHH plans to initiate a compulsory redemption for the remaining shares and seek delisting from Nasdaq Stockholm, aiming to create a comprehensive smoke-free product portfolio.

Philip Morris International (PMI) has announced a new regional structure and senior management changes to support its smoke-free business growth. The restructuring aims to enhance consumer focus and accelerate innovation, with a goal of becoming a majority smoke-free business by 2025. Key management appointments include Paul Riley, Frederic de Wilde, Massimo Andolina, and Deepak Mishra. The changes will take effect by January 2023, consolidating operations into four regions to boost the transition to smoke-free products in various markets, including the U.S.

Philip Morris International (PM) has launched BONDS by IQOS, a new heat-not-burn tobacco product designed for adults seeking alternatives to traditional cigarettes. This product uses the innovative ROUNDHEAT TOBACCO SYSTEM which heats tobacco without burning it, emitting 95% less harmful chemicals compared to cigarettes. BONDS by IQOS is initially available in the Philippines, with plans for wider commercialization by 2023. PMI aims for over 40 million adults to switch to smoke-free products by 2025, with expectations that smoke-free products will contribute over 50% of total net revenues by then.

Framtiden Management Company LLC has tendered its shares of Swedish Match AB to Philip Morris International, indicating disappointment in the acquisition terms for long-term shareholders. Dan Juran, Managing Member of Framtiden, stated their concern over the potential delisting of Swedish Match shares due to Philip Morris nearing a 90% ownership threshold. Juran expressed regret over tendering shares, originally hoping to remain a minority shareholder in a public company. The press release highlights a need for independent evaluation by Swedish Match shareholders regarding this takeover offer.

On May 11, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), proposed a public offer to acquire all shares of Swedish Match AB. By November 4, 2022, PMHH secured tender for approximately 82.59% of shares, declaring the offer unconditional. Following a dividend declaration, the offer price for subsequent shares was reduced to SEK 115.07. PMHH has now acquired 85.87% of Swedish Match shares, prompting plans for compulsory redemption and delisting from Nasdaq Stockholm, aiming for over 90% ownership.

On November 7, 2022, Philip Morris Holland Holdings B.V. announced the unconditional completion of its public offer for Swedish Match AB shares. The offer price was increased to SEK 116 per share, with approximately 82.59% of shares tendered by shareholders. The acceptance period has been further extended to November 25, 2022, with a reduced offer price of SEK 115.07 for shares tendered post-dividend. The acquisition is expected to enhance PMI's smoke-free product portfolio, consolidating results from November 11, 2022.

On October 28, 2022, Philip Morris Holland Holdings B.V. (PMHH), affiliate of Philip Morris International (PM), announced a revised public offer to acquire Swedish Match AB shares at SEK 116 per share. This follows prior communications and emphasizes the need for 90% acceptance to ensure the deal's viability. PMHH retains the right to adjust the acceptance condition post-offer end. Regulatory compliance and shareholder actions are highlighted, along with ongoing efforts to enhance PM's smoke-free portfolio in the U.S.

On October 25, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), announced receipt of all necessary approvals for its public offer to acquire Swedish Match AB. Originally made public on May 11, 2022, the offer price was increased from SEK 106 to SEK 116 per share in October 2022. The acceptance period for this offer expires on November 4, 2022, and PMHH retains a 90% acceptance condition to proceed. The acquisition is subject to the divestiture of Swedish Match’s subsidiary, SMD Logistics AB, which is not expected to materially affect Swedish Match’s operations.

Philip Morris International (NYSE: PM) reported a third-quarter diluted EPS of $1.34 and an adjusted diluted EPS of $1.53, reflecting an 8.3% currency-neutral growth. The company targets a full-year reported diluted EPS between $5.47 and $5.62, with adjusted EPS forecasts of $5.81 to $5.96. Smoke-free products contributed 30.1% of total revenues, growing IQOS user numbers to approximately 19.5 million. Despite challenges like supply chain issues and inflation, the firm raised its growth outlook for adjusted net revenues to 6.5%-8%, aiming for a majority smoke-free revenue by 2025.