share_log

Elliott Management Started Buying Swedish Match Stock After Philip Morris $16B Bid - What's Next

Elliott Management Started Buying Swedish Match Stock After Philip Morris $16B Bid - What's Next

在菲利普莫里斯出价160亿美元后，埃利奥特管理公司开始购买瑞典火柴股票-下一步是什么
Benzinga Real-time News ·  2022/08/18 07:50
  • Philip Morris International Inc (NYSE:PM) may have to increase its Swedish Match AB's (OTC: SWMAY) $16 billion bid to gain full ownership of the smokeless-tobacco maker, writes Wall Street Journal.
  • Philip Morris wants to gain an edge over its competitors, including Altria Group Inc (NYSE: MO) and British American Tobacco PLC (NYSE: BTI), to dominate smoke-free tobacco products. 
  • According to the WSJ report, since the companies announced their deal in May, hedge fund Elliott Management Corp has acquired an undisclosed stake in Swedish Match.
  • "It's crystal clear that Elliott is trying to get a better price from Philip Morris," said Massimo Stabilini, a hedge-fund manager at London-based Sinclair Capital. Mr. Stabilini said he started buying Swedish Match's shares after the deal's announcement, taking advantage of the stock initially trading below the offer price.
  • Triton had to increase its bid for Clinigen Group PLC by almost 5% in another takeover. Elliott, which had owned Clinigen stock for months, had built up a stake of 14% by the time Triton raised its offer.
  • Philip Morris's offer expires in October and is conditional on gaining more than 90% of Swedish Match's Stockholm-listed shares.
  • Elliott would need to buy around $1.6 billion of Swedish Match stock to stop Philip Morris from reaching 90%.
  • Price Action: PM shares are down 0.54% at $101.72 during the premarket session on the last check Thursday.
  • Photo via Company
  • 菲利普莫里斯(纽约证券交易所代码：PM)可能不得不增加其瑞典队AB‘s据《华尔街日报》报道，(场外交易代码：SWMAY)160亿美元竞购这家无烟烟草制造商的全部所有权。
  • 菲利普莫里斯希望获得相对于竞争对手的优势，包括奥驰亚(纽约证券交易所股票代码：MO)和英美烟草(纽约证券交易所股票代码：BTI)，主宰无烟烟草产品。
  • 根据《华尔街日报》的报道，自从两家公司在5月份宣布交易以来，对冲基金埃利奥特管理公司收购了瑞典火柴公司未披露的股份。
  • 伦敦辛克莱资本公司的对冲基金经理马西莫·斯塔比里尼说：“很明显，埃利奥特正试图从菲利普莫里斯那里得到更好的价格。”斯塔比里尼说，在交易宣布后，他开始买入瑞典火柴公司的股票，利用该公司股票最初低于发行价的机会。
  • 在另一次收购中，Triton不得不将对Clinigen Group PLC的出价提高了近5%。持有Clinigen股票已有数月之久的埃利奥特，在Triton提高报价时已持有14%的股份。
  • 菲利普莫里斯的报价将于10月份到期，条件是获得瑞典Match在斯德哥尔摩上市的90%以上的股份。
  • 埃利奥特需要购买约16亿美元的瑞典火柴股票，才能阻止菲利普莫里斯达到90%的持股比例。
  • 价格行动：在周四的盘前交易中，PM股价下跌0.54%，至101.72美元。
  • 照片通过公司
声明：本内容仅用作提供资讯及教育之目的，不构成对任何特定投资或投资策略的推荐或认可。 更多信息
    抢沙发