The highly anticipated tobacco merger between Reynolds American Inc. RAI and British American Tobacco BTI seem to have cleared the antitrust hurdles from the U.S authorities. The two participating companies have announced that the U.S. Department of Justice or the Federal Trade Commission has not asked for any additional information regarding the proposed merger within the waiting period, which has now expired. However, the deal expected to close in the third quarter of 2017, is still subject to shareholder approval from the participating companies.
Reynolds American entered into a merger agreement with British American Tobacco in Jan 2017, under which the latter will take over the remaining 57.8% of Reynolds for $49 billion. The deal comprises of $29.44 cash and a number of British American Tobacco American Depositary Shares representing 0.5260 of British American Tobacco’s ordinary share.
In 2003, U.S.'s RJ Reynolds Tobacco Holdings and British American Tobacco’s Brown & Williamson Tobacco Corp. merged to create Reynolds American Inc., in which the latter maintained 42% share in the combined entity.
Reynolds American entered into a merger agreement with British American Tobacco in Jan 2017, under which the latter will take over the remaining 57.8% of Reynolds for $49 billion. The deal comprises of $29.44 cash and a number of British American Tobacco American Depositary Shares representing 0.5260 of British American Tobacco’s ordinary share.
In 2003, U.S.'s RJ Reynolds Tobacco Holdings and British American Tobacco’s Brown & Williamson Tobacco Corp. merged to create Reynolds American Inc., in which the latter maintained 42% share in the combined entity.
on Tue, 03/14/2017 - 20:47 admin
