PHILIP MORRIS TAKES OVER CANADA’S ROTHMANS, BENSON & HEDGES AFTER LAW ENFORCEMENT DEAL
August 1st, 2008
BY KEITH NUTHALL
PHILIP Morris International is to acquire 100% ownership of Canada's Rothmans, Benson & Hedges (RBH) from its parent Rothmans Inc. Philip Morris already owned 40% of RBH, and is now acquiring the rest of the shares for CDN$30 per share, in a deal worth around CDN$2 billion. "This proposed acquisition is a win-win for both Rothmans and PMI shareholders," said Louis C Camilleri, PMI chairman and chief executive officer: "Rothmans shareholders will receive a significant cash premium and PMI consolidates its presence in a market ...
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