BAT would purchase Reynolds Americana

One of the world's largest cigarette manufacturer, the British American Tobacco (BAT) would purchase one of its competitor, the Reynolds Americana – portfolio.hu wrote.

The London-based BAT already owns 42.2 percent of Reynolds, and is offering cash and stock worth 56.50 USD a share for the rest of the company, representing a roughly 20 percent premium to Reynolds’s closing share price Thursday. BAT said it hadn’t broached the offer with Reynolds management before going directly to its board. (Portfolio.hu)