Reynolds American Inc (RAI.N)
20 Jan 2017
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
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.
Boutique investment banks have grabbed a record share of the global merger and acquisition fee pool off larger Wall Street rivals this year but their stock price performance is trailing bigger peers.
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.
LONDON Leading British investor Neil Woodford's fund firm said on Thursday it backed a takeover of Reynolds American by British American Tobacco , calling the tie-up "inevitable".
LONDON, Nov 17 Leading British investor Neil Woodford's fund firm said on Thursday it backed a takeover of Reynolds American by British American Tobacco, calling the tie-up "inevitable".
U.S. cigarette maker Reynolds American Inc is seeking a higher price from British American Tobacco Plc after rejecting its $47 billion takeover offer, a source familiar with the situation told Reuters. | Video