Year Absence: Bat and Tobacco

year absence: British American Tobacco said it would pay 29.444 in cash and 0.5260 BAT shares for each Reynolds share, marking a 26-percent premium over the price of the stock on October 20, 2016, the day before the first offer was made, according to Deutsche Welle. Shareholders in mind The deal means BAT will be able to return to the lucrative, but highly regulated US market after a 12-year absence, making it the only tobacco giant with a leading presence in American and international markets. The move came after BAT increased its offer by more than 2 billion for the 57.8 percent of the company it did not already own. Watch video 01 33Share Tighter EU rules for tobacco packaging Send Facebook Twitter Google Whatsapp if typeof WURFL 'object' if WURFL.is mobile && ! -1 WURFL.is mobile && ! -1 ; Tumblr linkedin stumble Digg reddit Newsvine Permalink EU rules for tobacco packaging BAT CEO Nicandro Durante said bringing the two companies together would drive sustained profit growth and returns for shareholders. It will create a stronger, global tobacco and next-generation-products business with direct access for our products across the most attractive markets in the world, Durante added. hg/jd Reuters, AFP (news.financializer.com). As reported in the news.