Philip Morris Stock Price, News & Analysis

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 October 20, 2022, at 9:00 a.m. ET to discuss its 2022 third-quarter financial results, released at 7:00 a.m. ET. CFO Emmanuel Babeau will lead the session, which includes a Q&A. The audio is accessible via PMI's Investor Relations Mobile App or their website. Archived content will be available until November 18, 2022. PMI is focused on a smoke-free future and has invested over USD 9 billion in innovative products.

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.

Philip Morris International (PMI) is advocating for a world without cigarettes as the United Nations General Assembly convenes. The company has released a white paper titled Rethinking Disruption: Innovating for Better in an Era of Division, sharing insights from a survey of 17,207 adults across 14 countries. Key findings indicate widespread support for new technologies addressing health issues, particularly smoking. PMI emphasizes the importance of collaboration among stakeholders to enhance public health and promote smoke-free alternatives. Since 2008, PMI has invested over USD 9 billion in smoke-free product development, aiming to phase out cigarette sales.

The Board of Directors of Philip Morris International (NYSE: PM) has announced a 1.6% increase in its quarterly dividend, raising the annualized rate to $5.08 per share. The new quarterly dividend will be $1.27, effective October 12, 2022, for shareholders on record as of September 28, 2022. The ex-dividend date is September 27, 2022. PMI continues to innovate in the smoke-free sector, having invested over $9 billion in smoke-free products since 2008, aiming to shift its portfolio from traditional tobacco products.

Philip Morris International (PM) has appointed Dr. Badrul Chowdhury as Chief Life Sciences Officer and Dr. Matthew Holman as Vice President of U.S. Scientific Engagement and Regulatory Strategy. The appointments aim to enhance PM's science-based transformation towards a smoke-free future. Dr. Chowdhury, previously with the U.S. FDA and biotech sectors, brings extensive regulatory expertise. Dr. Holman, also ex-U.S. FDA, will strengthen PM's engagement with regulatory bodies. These strategic moves reflect PM's commitment to advancing innovative, smoke-free products.

Philip Morris International Inc. (NYSE: PM) CFO Emmanuel Babeau will present at the Barclays Global Consumer Staples Conference in Boston today at 1:30 p.m. ET. The event will be available via live webcast and on the PMI Investor Relations App. PMI is committed to delivering a smoke-free future, having invested over USD 9 billion since 2008 in smoke-free product development. By June 2022, approximately 13.2 million adults globally had switched to PMI's IQOS, which is marketed as a Modified Risk Tobacco Product by the FDA, available in 70 markets excluding Russia and Ukraine.