Activist investor Elliott raises Philip Morris stake

JAPAN TOBACCO

30/09/2022 10:30

Sept 30 - Activist investor Elliott Management Corp has
raised its stake in Swedish Match  SWMA.ST  to 7.25%, from 5.5%
previously, it said in a disclosure Friday, putting pressure on
Philip Morris International  PM.N  to raise its bid. 
    By Swedish law, 90% of Swedish Match shareholders need to
approve the offer before Oct. 21, but some have come out against
the $16 billion -- or 106 SEK per share -- bid for one of the
world's biggest makers of oral nicotine products.
 (Reporting by Marie Mannes in Gdansk and Richa Naidu in London;
Editing by Matt Scuffham)
 ((Marie.mannes@thomsonreuters.com))