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British American Tobacco Takes Control

  • British American Tobacco finalized its deal by acquiring the remaining 57.8% of Reynolds for $49 billion.
  • The agreement came nearly three months after BAT first offered to buy the stake that it did not own for abut $47 billion
  • The purchase would create the world's largest publicly traded tobacco business, based on net sales, and it would combine companies with brands that include Camel, Lucky Strike, Newport and Pall Mall.
  • Under its cash-and-share offer, British American Tobacco would pay $59.64 a share for Reynolds American, representing a 26 percent premium over the company's closing price before the initial offer last October.

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