SPANISH TOBACCO INDUSTRY SEEKS TO ADJUST TO ALTADIS TAKEOVER AND CHAOTIC IMPLEMENTATION OF ANTI-TOBACCO LAW
June 1st, 2008
BY PAUL RIGG, in Madrid
THE DOMINANT event in the Spanish Tobacco Market in 2008 has been Imperial Tobacco's takeover of the Franco-Spanish company Altadis. Following a series of rebuffed bids in 2007, the widely predicted buyout was finalised on January 30, 2008. Approximately 95.81% of Altadis' shares were received when shareholders accepted the offer of Euro 50 per share. Imperial Tobacco then used the 'squeeze-out process' to acquire all the outstanding shares by February 21.
"This is a significant milestone for Imperial Tobacco, consolidating our ...
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