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Swedish Match recommends shareholders accept Philip Morris’ sweetened offer By Stocksak

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© Stocksak. FILEPHOTO: A Swedish Match concept shop for the tobacco group’s moist, powdered tobacco “snus”, in Stockholm (Sweden), October 24, 2018. REUTERS/Anna Ringstrom/File Photo

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(Stocksak – Swedish Match AB recommended that shareholders accept Philip Morris International Inc’s (NYSE:) raised buyout offer for Marlboro maker Philip Morris International Inc.

Although Philip Morris raised its offer by more than 9 percent to 116 Swedish Crowns per share earlier in the month, calling it its “best and last price”, it was met with opposition from Swedish Match shareholders.

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