EU to Decide on Swedish Match Deal by Oct. 11

    Photo: Berk

    European Antitrust regulators will review Philip Morris International’s $16 million bid for Swedish Match by Oct. 11, reports Reuters, citing a Sept. 6 European Commission filing.

    At the end of its scrutiny, the EU competition enforcer can clear the deal with or without remedies or it can open a four-month-long investigation if it has serious concerns.

    In August, PMI extended the acceptance period for its offer from Sept. 10 to Oct. 21 following indications that the European regulators needed more time to review the proposed takeover.

    The multinational says it has already obtained approvals from other prominent regulators, including those in the United States and Brazil.