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

在菲利普莫里斯出價160億美元后，埃利奧特管理公司開始購買瑞典火柴股票-下一步是什麼
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(紐約證券交易所代碼：PM)可能不得不增加其瑞典隊AB‘s據《華爾街日報》報道，(場外交易代碼：SWMAY)160億美元競購這家無煙煙草製造商的全部所有權。
  • 菲利普莫里斯希望獲得相對於競爭對手的優勢，包括奧馳亞(紐約證券交易所股票代碼：MO)和英美煙草(紐約證券交易所股票代碼：BTI)，主宰無煙煙草產品。
  • 根據《華爾街日報》的報道，自從兩家公司在5月份宣佈交易以來，對衝基金埃利奧特管理公司收購了瑞典火柴公司未披露的股份。
  • 倫敦辛克萊資本公司的對衝基金經理馬西莫·斯塔比里尼説：“很明顯，埃利奧特正試圖從菲利普莫里斯那裏得到更好的價格。”斯塔比里尼説，在交易宣佈後，他開始買入瑞典火柴公司的股票，利用該公司股票最初低於發行價的機會。
  • 在另一次收購中，Triton不得不將對Clinigen Group PLC的出價提高了近5%。持有Clinigen股票已有數月之久的埃利奧特，在Triton提高報價時已持有14%的股份。
  • 菲利普莫里斯的報價將於10月份到期，條件是獲得瑞典Match在斯德哥爾摩上市的90%以上的股份。
  • 埃利奧特需要購買約16億美元的瑞典火柴股票，才能阻止菲利普莫里斯達到90%的持股比例。
  • 價格行動：在週四的盤前交易中，PM股價下跌0.54%，至101.72美元。
  • 照片通過公司
声明：本內容僅用作提供資訊及教育之目的，不構成對任何特定投資或投資策略的推薦或認可。 更多信息
    搶先評論