United States

Reynolds American Inc (RAI)

RAI on New York Consolidated

25 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Proposed BAT acquisition of RAI gains Japan antitrust approval
Wednesday, 5 Apr 2017 07:09am EDT 

Reynolds American Inc :Proposed BAT acquisition of RAI gains Japan antitrust approval.  Full Article

BAT says U.S. antitrust condition satisfied for Reynolds buy
Thursday, 9 Mar 2017 07:00am EST 

British American Tobacco : Proposed Acquisition Of Reynolds – U.S. Antitrust Condition Satisfied . continue to expect transaction to close during q3 of 2017 .filing process to obtain antitrust clearance from Japanese authorities is underway.  Full Article

BAT full-year revenue rises
Thursday, 23 Feb 2017 02:00am EST 

British American Tobacco Plc : Preliminary announcement for the year ended 31 December 2016 . FY revenue 14,751 mln stg vs 14,008 mln stg year earlier . FY adjusted profit from operations. 5,480 mln stg versus 5,197 mln stg year earlier . FY group's cigarette market share1 in its key markets2 continued to grow very strongly, up 50 basis points (bps) . FY group cigarette volume grew 0.2 pct to 665 billion . FY total tobacco volume was 0.1 pct higher than 2015 . FY group revenue was up 12.6 pct at current rates . FY adjusted diluted earnings per share, at current rates, was up 18.8 pct at 247.5 pence . Board has recommended a final dividend of 118.1p, to be paid on 4 May 2017 . In 2016, group experienced significant hedge ineffectiveness on its external swaps, driven by market volatility following referendum regarding "Brexit" .Are investigating, through external legal advisors, allegations of misconduct and are liaising with serious fraud office and other relevant authorities.  Full Article

BAT preparing to raise offer for Reynolds American in next few days - sources
Monday, 5 Dec 2016 08:53am EST 

: BAT is preparing to raise its offer for Reynolds American in the next few days - sources ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Reynolds American says Q2 EPS of $0.56
Tuesday, 26 Jul 2016 07:05am EDT 

Reynolds American Inc : Advisory: RAI reports strong 2Q16 performance; accelerates returns to shareholders . Qtrly reported EPS of $0.56 . Qtrly net sales $3,195 million versus $2,403 million . Q2 earnings per share view $0.61, revenue view $3.26 billion -- Thomson Reuters I/B/E/S . Increases dividend payout target from 75 percent to 80 percent . Industry cigarette volume fell 3.9 percent in Q2, which was negatively impacted by changes to wholesale inventory levels . "Board approved a 9.5 percent increase in its quarterly cash dividend to $0.46 per share" . Qtrly adjusted EPS of $0.58 . Narrows 2016 guidance to adjusted EPS range of $2.26 to $2.34 . Says announces $2.0 billion share repurchase program . FY 2016 earnings per share view $2.35 -- Thomson Reuters I/B/E/S ."RAI's operating companies continued to advance their transforming-tobacco objectives in the second quarter".  Full Article

Reynolds American files for potential debt shelf for undisclosed sum
Thursday, 12 May 2016 04:56pm EDT 

Reynolds American Inc :Files for potential debt shelf; size not disclosed - sec filing.  Full Article

Reynolds American Inc - Big tobacco settles decade-long dispute with New York - Reuters
Tuesday, 20 Oct 2015 02:09pm EDT 

Reynolds American Inc:Big U.S. tobacco companies including Reynolds American Inc and Altria Group Inc agreed to pay New York $550 million, or 90 percent, of the amount kept in an escrow account, ending a decade-long dispute - RTRS.The dispute stems from disagreements over the enforcement of certain terms of a Master Settlement Agreement (MSA) - RTRS.Under the MSA, signed in 1998, tobacco companies had to make annual payments to U.S. states as compensation for medical costs related to smoking-related illnesses - RTRS.Reynolds American, Altria and other companies signed the MSA. But, under the terms, it was also agreed that companies that were not part of the MSA had to contribute to a reserve fund to be used by states to cover smoking-related costs - RTRS.However, in 2003, signatories to the MSA argued that some states, including New York, had failed to "diligently enforce" the collection of funds from non-participating companies - RTRS.Since then, the participating companies have withheld their own annual payments and put them in an escrow account, which totaled about $700 million for New York - RTRS.New York Attorney General Eric Schneiderman said on Tuesday that the state agreed to settle for the release of 90 percent of the withheld payments and assurances of continued annual payments under the MSA from now on.- RTRS.About half of the $550 million will go to New York state, a quarter to New York City and the rest to counties outside the city - RTRS.  Full Article

Reynolds American Inc announces sale of natural American spirit international businesses
Tuesday, 29 Sep 2015 06:00am EDT 

Reynolds American Inc:Reynolds American announces sale of natural American spirit international businesses to JT group.  Full Article

U.S. FDA orders Reynolds American Inc to stop sales of 4 cigarette brands - Reuters
Monday, 14 Sep 2015 08:00pm EDT 

Reynolds American Inc:Reynolds American Inc can no longer sell Camel Crush Bold or three other cigarette products in the United States because they may be more dangerous than similar older cigarettes, the Food and Drug Administration said on Tuesday - Reuters.The 2009 Tobacco Control Act requires that new cigarettes be reviewed by the FDA before being allowed on the market. No product introduced after Feb. 15, 2007 can carry a greater health risk when measured against an earlier, "predicate" product - Reuters.The FDA found that the four Reynolds products, Camel Crush Bold, Pall Mall Deep Set Recessed Filter, Pall Mall Deep Set Recessed Filter Menthol and Vantage Tech 13 cigarettes, have different characteristics from their predicates that raise new health questions - Reuters.R.J. Reynolds Tobacco Co, a unit of Reynolds American, said in a statement on Tuesday that it strongly disagreed with the FDA ruling and that the cigarette brands were "not substantially equivalent" to the older ones - Reuters.Mitch Zeller, director of the FDA's tobacco division, told reporters on a conference call that the Reynolds products included increased yields of harmful or potentially harmful constituents, higher levels of menthol and the addition of new ingredients - Reuters.  Full Article

Reynolds American Inc completes acquisition of Lorillard and related divestitures
Friday, 12 Jun 2015 08:27am EDT 

Reynolds American Inc:Completed its acquisition of Lorillard, Inc. and related divestiture transactions.Says as a result of the acquisition, Lorillard is a wholly owned subsidiary of RAI, and former Lorillard shareholders will own approximately 15 percent of RAI's common stock.In related divestiture transactions, subsidiaries of RAI have sold the KOOL, Salem, Winston, Maverick and blu eCigs brands, and other assets and liabilities, to ITG Brands, LLC, a subsidiary of Imperial Tobacco Group, PLC, for total consideration of approximately $7.1 billion in cash.Additionally, British American Tobacco p.l.c. maintained its approximately 42 percent ownership in RAI through an equity investment of approximately $4.7 billion.  Full Article

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BRIEF-Proposed BAT acquisition of RAI gains Japan antitrust approval

* Proposed BAT acquisition of RAI gains Japan antitrust approval Source text for Eikon: Further company coverage: