British American Tobacco PLC (BATS.L)
23 Jan 2017
NEW YORK U.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear. | Video
LONDON British American Tobacco has agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc , creating the world's biggest listed tobacco company after it increased an earlier offer by more than $2 billion. | Video
* Deal brings together makers of Pall Mall, Camel, Newport (Adds analyst and CEO comments)
(The following statement was released by the rating agency) LONDON, January 17 (Fitch) The increased price and cash component of British American Tobacco's (BAT) revised deal to acquire full control of Reynolds American will result in higher leverage than under the original proposal, Fitch Ratings says. It also means a two-notch downgrade is the most likely outcome for BAT's 'A-' IDR, which was placed on Rating Watch Negative following the first approach in October. We said at the time that
* Agreed terms of a recommended offer for BAT to acquire remaining 57.8 pct of Reynolds it does not already own Source text for Eikon: For full story, click on: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)
LONDON, Jan 17 British American Tobacco said on Tuesday it had agreed terms to buy U.S. rival Reynolds American Inc after it increased its offer for the 57.8 percent of the company it did not already own to $49.4 billion.
LONDON British American Tobacco (BAT) has quit plans to market a nicotine inhaler called Voke to focus on consumer items like e-cigarettes rather than health products.
LONDON Credit Suisse and AstraZeneca are among Bank of America-Merrill Lynch's top picks for the first quarter of 2017, as the market is overly pessimistic on both stocks, according to analysts at the bank.
SARAJEVO An Austrian fund backed by British American Tobacco agreed to increase its stake in Bosnian holding firm Fabrika Duhana Sarajevo (FDS) to 78.8 percent, paving the way for BAT to acquire FDS's tobacco assets.
LONDON Philip Morris International , the world's largest international tobacco company, said it could eventually stub out cigarette sales as it launched an alternative product in Britain on Wednesday.