NEW YORK, Sept. 5 /CNW/ - 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
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.
For further information:
For further information: Investor Relations: New York: (917) 663-2233,
Lausanne: +41 (0)58 242 4666, www.pmintl.com/investors