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Activist hedge fund stands to make about $150mn in profit from deal
Hedge fund now has power to decide outcome of Philip Morris International’s $16bn offer for smokeless tobacco specialist
Cigarette maker bows to pressure from activist funds that have built stakes in smokeless tobacco specialist
Segment carries lower regulatory risk than traditional cigarettes
Even if its $16bn investment in Swedish Match disappoints, annual cigarette sales of 600bn provide decent insurance
Acquisition takes company further into market for tobacco-free alternatives to cigarettes
European group’s success with chewing tobacco and pouches make for a tidy addition
Marlboro seller close to acquisition of maker of snus tobacco pouches in further shift away from cigarettes
Imperial and Swedish Match both demonstrate hard work for growth
The sector is outperforming most others this year and is in reasonable health
An experiment disproves the assumption that just sulphuric acid, ammonia and water can account for nucleation
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