Philip Morris Sets its Sights on Acquiring Swedish Smokeless Tobacco Company

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Cigarette king Philip Morris International (PMI) wants to see its business burning at both ends -- but not literally.

In the latest move to reshape its business so that 50% of revenue originates from smoke-free products, PMI has homed in on acquiring Swedish Match, a Stockholm-based tobacco multinational with rip-roaring recent success in the smoke-free sector. On Monday, both companies confirmed to The Wall Street Journal that negotiations have entered advanced talks -- and a deal could be reached as soon as Friday.

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Source Fool.com