September 8, 2008 - PMI said Friday, 9/5/2008 it had extended a deadline on its offer to buy cigarette maker Rothmans for $1.95 billion, in order to meet a requirement under Canadian regulatory rules. PMI said the extension was to allow for a 45-day review period under the Investment Canada Act. The offer period is being extended to Sept. 16 to give time for the review to be completed. Last month, the company received an advance ruling certificate from the Canadian Commissioner of Competition for the deal.
Reference: Philip Morris International extends Rothmans offer deadline to allow Canadian Review, Canadian Business online, 9/5/2008.
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