Philip Morris International Inc. (PMI) Extends Rothmans Offer Pending Investment Canada Review
NEW YORK--(BUSINESS WIRE)--Sept. 5, 2008--Regulatory News:
Philip Morris International Inc. (NYSE / Euronext Paris: PM)
announced today that it has extended the expiry of its CAD $30.00 per
share cash offer to purchase all of the outstanding common shares of
Rothmans Inc. (Rothmans).
The extension is procedural, being related to the last remaining
regulatory approval required for the transaction, namely a
determination of net benefit by the Minister of Industry pursuant to
the Investment Canada Act. Under the Investment Canada Act, the review
period runs for an initial 45-day period from the date an application
for review is filed. PMI filed its application for review on July 31,
2008 and, accordingly, the offer period is being extended to midnight
(Vancouver time) at the end of September 16, 2008, to permit
completion of the review.
As previously announced on August 14, 2008, PMI received an
advance ruling certificate ("ARC") from the Canadian Commissioner of
Competition. The issuance of the ARC satisfies the other regulatory
condition to PMI's offer, dated August 7, 2008, that clearance be
obtained under the Competition Act (Canada).
The offer documents are available on the SEDAR website at
www.sedar.com under the SEDAR profile for Rothmans.
About Philip Morris International Inc.
Philip Morris International Inc. (PMI) is the leading
international tobacco company, with seven of the world's top 15
brands, including Marlboro, the number one cigarette brand worldwide.
PMI has more than 75,000 employees and its products are sold in
approximately 160 countries. In 2007, the company held an estimated
15.6% share of the total international cigarette market outside of the
U.S. For more information, see www.pmintl.com.
CONTACT: For further information:
New York: (917) 663-2233
Lausanne: +41 (0)58 242 4666
SOURCE: Philip Morris International Inc.
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