Bronte Capital

MAY 9, 2022

There are confirmed rumours that Swedish Match, a Swedish company focussed on oral nicotine delivery (snus, chewing tobacco and most importantly "modern oral") is in advanced merger talks with Philip Morris. I am furious. Swedish Match is about a ten percent position for my fund - and a core holding. We own about 1 percent of the company. The management lucked-in when they came up with what is in my opinion the best nicotine product ever invented and hence founded the whole category of "modern o

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Management Business Utilities Stock 130

Sun Acquisitions

MAY 13, 2022

People typically start businesses for one of four major reasons: For the lifestyle. For the money (they hope to make when they eventually sell). As a legacy and for posterity. To change the world. Regardless of the reason for setting out to establish a business, a fair number of people eventually wind up thinking of selling. And the question of when should you sell a business inevitably comes up.

Business 98

Business Mergers and Acquisitions M&A Sale 98

Synopsys: M&A

MAY 11, 2022

It’s critical to have the right people and approach when it comes to understanding and resolving licensing issues in open source audits. The post Black Duck Open Source Audits: Working through licensing issues like a pro appeared first on Application Security Blog.

Securities 75

Securities IT Mergers and Acquisitions M&A 75

Sica Fletcher

MAY 12, 2022

The Numbers Are In, and They Are Staggering In our April 2022 blog , we announced that Sica | Fletcher had completed the most comprehensive study in the history of our industry on multiples paid in insurance agency and brokerage acquisitions. We did this by aggregating and analyzing the data on the nearly 400 closed transactions on which Sica Fletcher has advised over the past three years.

Insurance 52

Insurance M&A Valuation Sale 52

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Management

Bronte Capital

MAY 9, 2022

There is an article just out that Swedish Match is in advanced merger talks with Philip Morris at a price of about USD15 billion. At Bronte we own 15.1 million shares in Swedish Match - or about 1 percent of the company. We believe the future for Swedish Match is considerably better than the price reflected and we are not happy with this offer. We will consider our future actions.

Mergers 100

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