Philip Morris extends bid for Rothmans

Tobacco producer Altria Group Inc. is smoking today. Not only is the group apparently in advanced talks to buy UST Inc. for more than $10 billion, but its spinout, Philip Morris International Inc., has extended its offer to buy Rothmans Inc. to Sept 16, according to a Reuters report.

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The extension relates to the last required regulatory approval for the deal. Philip Morris offered C$2 billion ($1.95 billion) for the remaining 60% stake in Canada's No. 2 cigarette maker on July 31. - Maria Woehr

See Dealscape: Who wins in UST-Altria?
See story from Reuters
See TheDeal.com: Philip Morris nets Rothmans

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