A Philip Morris bid for Swedish Match could win regulatory approval, analysts say

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Analysts say a Philip Morris International PM, +0.94% bid for Swedish Match SWMA, +25.14% was likely to win antitrust approval, a day after the companies confirmed talks on a possible deal. Analysts at Cowen said Philip Morris doesn’t have a meaningful market share in any of the important geographies and products that Swedish Match operates in. However, Altria MO, -2.32% has meaningful overlaps in the U.S., and British American Tobacco BATS, +1.27% has overlaps in the U.S. and Scandinavia. Analysts at JPMorgan added there is at least a 50% probability of a deal being completed. Swedish Match’s local shares rallied 25% to 95 krona, a slight discount to the roughly 99 krona implied from the Wall Street Journal article that first mentioned the talks.

This article was originally published by Marketwatch.com. Read the original article here.

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