Philip Morris International (PMI) completes buyout of Rothmans..

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.

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Reference: Philip Morris Int'l completes buyout of Rothmans, International Business Times, 9/17/2008.