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Swedish Match Shares Jump on Speculation of Philip Morris Bid - Bloomberg.com 

Swedish Match AB, Europe’s largest maker of smokeless tobacco products, jumped in Stockholm trading on speculation Philip Morris International Inc. will bid for the company.

The shares rose as much as 8.9 percent, the most in almost a year, and were up 9 kronor, or 6.2 percent, at 155 kronor as of 3:45 p.m. local time. They’re set to close at their highest since January 2008. Swedish Match’s market capitalization is 38.7 billion kronor ($5.5 billion).

“There is a rumor that Philip Morris is showing interest in Swedish Match, and the level mentioned is 182 kronor,” said Michael Arnhuvud, a trader at Sweden’s Swedbank AB. Philip Morris spokeswoman Marija Sepic declined to comment, as did Swedish Match spokeswoman Rupini Bergstroem.

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