Wednesday, January 18, 2017

Owner of the Lucky Strike buy Reynolds for $49.4 bi

London-British American Tobacco (BAT) has agreed to raise the offer to $49.4 billion to take full control of Reynolds, the companies announced on Tuesday.
The deal by 57.8% other actions that are no longer under British control, will create the largest listed tobacco company by revenue and market value.
The BAT will pay $29.44 in cash plus $0.5260 by common share of Reynolds, evaluating the company at more than $85 billion.
Previously, the offer was $56.5 per share, which implied a market value of about $47 billion.
At 8:17 (Eastern), shares in BAT fell 0.23 percent on the London Stock Exchange.
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