Philip Morris International takes control of Sampoerna

It was announced yesterday (March 14) that Philip Morris International (PMI) - maker of Marlboro and L&M cigarette brands - has made a bid to buy Indonesia's iconic Sampoerna clove cigarette company. PMI has agreed to pay the Sampoerna family Rp10,600 a share for its 40% stake and will now launch a public tender for the remaining 60% of the company listed on the stock market at the same price.