19.96%SPY 79.52 
5.39%XLF 9.68 3.09%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
NEW YORK - Philip Morris International, maker of Marlboros overseas, said Tuesday it has bought about 94 percent of the stock of Canadian cigarette maker Rothmans Inc.
The company said it bought all the shares that were tendered and will pay for any remaining shares on Thursday. It said shareholders of about 63.9 million shares had responded to its tender offer.
The buyout comes amid global consolidation in the tobacco industry.
Altria Group Inc., which owns Philip Morris USA, said earlier this month that it would buy smokeless tobacco maker UST Inc. And in January, Imperial Tobacco Group PLC bought Franco-Spanish company Altadis.
Furthermore, industry watchers are speculating about a possible eventual buyout of Lorillard, which was spun off from the Loews Corp. in June.
Philip Morris International was spun off from Altria in March.
Shares gained $2.14, or 4.6 percent, to $48.94 in morning trading.
Citigroup Inc. shares tumbled below $5 a share Thursday to their lowest level in...
As more Americans rely on charity amid worsening economic gloom, operators of fo...
Authorities say at least four people have died in landslides triggered by a volcanic eruption in southwestern Colombia. Cauca state Gov. Guillerm...
Split Big Profits! You Find it & We Fund it! Co-Own Or Cash Out! Get Free Info Kit Now!
Baldwin Linguas:
Translations Interpreting Localization:
English French Portuguese Spanish
Get your next web design project done with our los angeles web design team - Best web design with great price.
Partners   
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
1.04
-2.32
