BAT reaches an agreement to purchase Reynolds by 49.400 million dollars – Investing.com Spain

LONDON (Reuters) – British American Tobacco (LON:) has reached an agreement to buy its us rival Reynolds American Inc (NYSE:) by 49.400 million dollars, which will create the largest tobacco company in the world that is publicly traded, after improving a previous offer more than 2,000 million dollars.

BAT, which already owned 42 percent of Reynolds, said it will pay 29,44 dollars in cash and 0,5260 actions of BAT for each title of Reynolds, which represents a premium of 26 per cent on the price of the paper on 20 October, the day before its first offer was made public.

The manufacturer of Camel cigarettes, and Newport rejected the initial offer a month later, the sources said, but both sides continued negotiations.

The agreement will mark the return of BAT to the lucrative and highly regulated U.s. market after an absence of 12 years, so that will be the only giant of the tobacco with a presence of leadership in the u.s. market and internationally.

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