Thndr Claps » U.S. Claps » Mergers & Acquisitions 🤝 » Philip Morris goes smokeless🚭
Tobacco giant Philip Morris (NYSE: PM) is close to acquiring Swedish Match AB, which makes smokeless tobacco & nicotine products, according to the Wall Street Journal.
The deal reportedly values Match AB at around $15 billion, & could happen as soon as this week, although there’s still some chance of it falling through.
Why this matters
The deal would boost Philip Morris’ share of the fast-growing market for smokeless nicotine products.
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