Philip Morris isn’t considering withdrawing Swedish Match bid -CEO By Reuters

GDANSK/LONDON (Reuters) – Philip Morris (NYSE:) is not considering withdrawing its offer for Swedish Match despite deteriorating global economic conditions and has “options on the table” including holding a majority stake, its CEO told Reuters.

Jacek Olczak told Reuters that since it made its original bid, the global macro-economic environment has changed. As a result, he believes the offer is “even more attractive than it was the time when we did offer it.”