September 18, 2008 - PMI said Wednesday, 9/17, 2008, it had completed its buyout of Canadian cigarette maker Rothmans Inc. PMI said owners of about 47 million shares, representing about 68 percent of the company, had accepted its offer of 30 Canadian dollars (about $28.16) per share. It will pay for those shares on Friday. The company also extended its offer by 10 days to allow shareholders to tender remaining shares.
Canada-based Rothmans has a 60 percent stake in Rothmans, Benson & Hedges Inc. (RBH), which makes and sells cigarettes including Benson & Hedges, Craven A and Mark Ten. Philip Morris International owns the remaining 40 percent of RBH.
Related news briefs: Philip Morris International (PMI) gets all clear to acquire Rothmans Inc..; Philip Morris International (PMI) extends deadline on offer to buy Rothmans..; PMI’s Rothmans acquisition clears competition hurdle..; Rothmans reports loss for latest quarter..; PMI can't use the Marlboro brand name in Canada..; PMI - Rothman creating legal and public relations headaches..; Philip Morris International to buy Toronto based Rothmans Inc.. and Canada tobacco firms admit aiding smuggling...
Reference: Philip Morris Int'l completes buyout of Rothmans, International Business Times, 9/17/2008.
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