The offer is now closed. PMHH becomes the owner of 93.11 percent of the shares in Swedish Match, and intends to initiate compulsory redemption and request delisting

Since 2008, Philip Morris International (PMI) has invested more than USD 9 billion in researching, developing, and commercializing products that are a better choice than cigarettes for those adults who would otherwise continue to smoke. While cigarettes represent PMI’s past and are part of its present, they do not represent the company’s future.

In its quest to deliver a smoke-free future, the company has built world-class scientific assessment capabilities that meet the strictest regulatory requirements. This includes in the U.S., where the Food and Drug Administration has authorized versions of PMI’s leading heated tobacco product, IQOS, as modified risk tobacco products (MRTPs), finding that exposure modification orders for these products are appropriate to promote the public health.

PMI and Swedish Match AB (Swedish Match) share a mutual vision of a world without cigarettes and a strong commitment to developing, scientifically substantiating, and responsibly commercializing smoke-free products that are less harmful than cigarettes. As PMI continues to evolve its business for the long term, it believes that the two companies are a perfect pairing of strategic vision, culture, and enterprise. Together, the companies can create a global, science-led smoke-free champion, combining expertise in heated tobacco and oral nicotine—including multiple MRTP authorizations—as well as PMI’s emerging presence in e-vapor products, to switch more adult smokers to better alternatives than the two could achieve as separate companies. Swedish Match would lead the combined company’s oral nicotine business.