Welcome to our dedicated page for Philip Morris news (Ticker: PM), a resource for investors and traders seeking the latest updates and insights on Philip Morris stock.
Philip Morris International (PM) maintains a dynamic presence in global markets through strategic initiatives and product evolution. This news hub provides investors and industry observers with essential updates about the company's financial performance, reduced-risk product developments, and regulatory engagements.
Access timely press releases and curated analysis covering PM's quarterly earnings, market expansion strategies, and innovations in smoke-free alternatives like heatsticks and oral nicotine products. Our repository simplifies tracking of critical milestones including acquisition announcements, sustainability efforts, and leadership changes impacting this tobacco industry leader.
All content undergoes rigorous verification to ensure accuracy and relevance for stakeholders monitoring PM's transition toward reduced-risk portfolios. Bookmark this page for streamlined access to operational updates and strategic disclosures from one of the world's largest publicly traded tobacco enterprises.
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 Originally made public on May 11, 2022, the offer price was increased from SEK 106 to SEK 116 per share in October 2022.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.
Philip Morris International (PMI) announced a significant agreement with Altria Group to terminate their commercial relationship regarding IQOS in the U.S. effective April 30, 2024. PMI will pay
On October 20, 2022, Philip Morris Holland Holdings B.V., an affiliate of Philip Morris International (PM), enhanced its public offer to acquire Swedish Match AB shares, raising the offer price to SEK 116 per share. This revised offer represents a premium of 52.5% over the last closing price before the initial offer. PMHH will not increase this price further due to regulations. The offer is crucial for capturing Swedish Match's cash flow potential, particularly from U.S. markets. Acceptance period ends on November 4, 2022.
Philip Morris International (NYSE: PM) will hold a live audio webcast on
On May 11, 2022, Philip Morris Holland Holdings B.V. announced a public offer to acquire shares of Swedish Match AB. The acceptance period has been extended multiple times, with the latest deadline set for November 4, 2022. Regulatory approvals have been largely obtained, except for one from the European Commission, which is pending. As of October 3, 2022, shareholders have tendered approximately 0.51% of Swedish Match's shares. The merger aims to align with Philip Morris's strategy in a challenging market environment.
The Framtiden Partnerships, a long-term shareholder of Swedish Match, opposed Philip Morris International's takeover bid of SEK 106 per share, deeming it undervalued. Framtiden estimates Swedish Match's intrinsic value at around SEK 200 per share, arguing the offer overlooks the company's growth potential in the non-tobacco nicotine market, particularly with its ZYN products. The Partnerships, owning approximately 1% of shares, expressed concerns that accepting the offer would force long-term investors to realize capital gains prematurely. They urge shareholders to reconsider the bid in light of Swedish Match's promising future.
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