Philip Morris could buy Zyn-maker Swedish Match
CNN
Shares in Swedish Match soared 25% in mid-morning trade on Tuesday after US rival Philip Morris International said it was in talks to buy the Stockholm-based tobacco products company, betting on a growing market for alternatives to cigarettes.
The two companies in separate statements late on Monday confirmed media reports of the talks, saying it was uncertain whether an offer would be made.
Shares in Philip Morris, which is looking to expand its smoke-free options amid rising global scrutiny of the sale of traditional cigarettes, closed up 1% on Monday.
President Joe Biden warned against a streak of “semi-isolationism” in the US as he stressed the importance of alliances during a symbolic visit to the Aisne-Marne American Cemetery on Sunday, honoring the thousands of Americans who died in World War I at a site former President Donald Trump skipped during a 2018 visit to Paris.
Looking to shore up Latino votes in Nevada and Arizona for his reelection campaign, President Joe Biden is on the verge of soon following up last week’s executive action aimed at curbing border crossings with another move focused on providing legal status for long-term undocumented immigrants married to American citizens and without criminal records.