Mon, Jul. 6, 4:33 AM
- Philip Morris (NYSE:PM) plans to sell over $1B worth of shares in its Indonesian operation, PT HM Sampoerna, in what would be one of the year's biggest share sales in Southeast Asia, WSJ reports.
- The sale would allow the firm to comply with a pending stock-exchange rule requiring all Indonesia-listed companies to have a minimum free float of 7.5%.
Apr. 29, 2014, 12:55 PM
- Bankers and lawyers are busy working on potential mergers in the tobacco industry, reports CNBC (video).
- The biggest buzz is over the potential that Reynolds American (RAI +1.4%) will buy Lorillard (LO +3%) for as much as $80 per share.
- Though Wells Fargo notes Reynolds would have to divest some significant menthol brands to get a Lorillard deal past regulators, the firm sees a deal as likely.
- Other tobaccco players: MO, PM, BTI, ITYBY, ITYBF, PHJMF, JAPAF, SFIO, VGR, SWNG, SWMAF, SWMAY, XXII, BTAFF, UVV
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