By Swedish law a bidder can only initiate a compulsory redemption of remaining shares if voluntary acceptance is above 90%. PMI had said earlier it could drop the bid if acceptance was lower.
(Reporting by Marie Mannes, editing by Terje Solsvik)
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(Reuters) - Marlboro maker Philip Morris International (PMI) said on Monday it was going ahead with its $16 billion plan to buy Swedish Match despite winning accept from owners with no more than 82.59% of shares in the Swedish peer.
By Swedish law a bidder can only initiate a compulsory redemption of remaining shares if voluntary acceptance is above 90%. PMI had said earlier it could drop the bid if acceptance was lower.
(Reporting by Marie Mannes, editing by Terje Solsvik)