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British American Tobacco has offered to buy the slice of Reynolds American that it does not already own to create a tobacco giant.
In a statement on Friday, BAT said it was snapping up the 57.8 per cent stake at a value of $56.50 per share, a 20 per cent premium on yesterday’s closing price.
BAT said the total consideration for the remaining 57.8 per cent of Reynolds would be $47bn, of which about $20bn would be in cash and $27bn in shares.
Financial Times
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