The most important event this week in Consumer Staplessector will be special shareholders meeting at Reynolds American (NYSE:RAI), taking place on July 19, 2017.
The business of the day is selling British American Tobacco (LON:BATS) (BAT). BAT already holds 42,2% of RAI (that's why deal is expected to be approved). Other 57,8% of BAT Reynolds American is going to buy for $54,5 billions, ($30,1 billions will be payid by BAT shares).
British American Tobacco is trying to take leadership under Philip Morris International (NYSE:PM), spread it's presence in America.
BAT is going to make additional emission of 435 556 670 shares (now there are 1,86 billions of shares on the market), that will be used to buy RAI. Decision of additional emission will be announced after shareholders meeting of Reynolds American.