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The clock is ticking for tobacco giant Philip Morris to rally support from Swedish Match shareholders for its offer to buy the snus maker – and not everyone is on board.

Chicago-based Framtiden Partnerships, a Swedish Match shareholder for nearly two decades, told Reuters on Wednesday that it opposes Philip Morris’ (PMI) proposed takeover of the Stockholm-based company.

The investor – incorporating Framtiden Management Company LLC and affiliates – which owns 1% of Swedish Match, has written a white paper urging others to reject the deal that 90% of shareholders need to approve before October 21, by Swedish law.