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Tobacco giant BAT pays $49.4bn for control of US firm Reynolds

Jan 17. 2017
A tobacconist sells plain ciagarette packages in a tobacco shop in Vertou, western France, on December 27, 2016. Tobacconists in France will only be permitted to sell plain tobacco packages as of January 1, 2017. / AFP PHOTO
A tobacconist sells plain ciagarette packages in a tobacco shop in Vertou, western France, on December 27, 2016. Tobacconists in France will only be permitted to sell plain tobacco packages as of January 1, 2017. / AFP PHOTO
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By Agence France-Presse

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LONDON - British American Tobacco agreed Tuesday to pay almost $50 billion (47 billion euros) for control of US firm Reynolds American, creating the world's largest listed tobacco company.

The maker of Lucky Strike and Rothmans cigarettes will purchase the 57.8-per cent of Reynolds American that it does not already own, BAT said in a statement, unveiling an improved cash-and-shares offer after the US giant -- whose brands include Camel and Newport -- had rejected its previous $47-billion bid.

 

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