(Reuters) – Tobacco company Swedish Match AB on Thursday recommended that shareholders accept Marlboro maker Philip Morris International Inc’s raised buyout bid for the company.

Although Philip Morris raised its bid by more than 9% to 116 Swedish crowns per share earlier this month and called that its “best and final price”, it had been met with some opposition from Swedish Match shareholders.

(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)