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British American Tobacco PLC (BATS.L)

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15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Reynolds American, BAT, Batus and Merger Sub enters into an amendment
Thursday, 8 Jun 2017 05:08pm EDT 

June 8 (Reuters) - British American Tobacco Plc :Reynolds American says ‍on June 8, 2017, RAI, BAT, Batus and Merger Sub entered into amendment to agreement and plan of merger - SEC filing​.‍Upon deal close, restated articles of incorporation of RAI to be amended for minimum of 1 director instead of minimum of 9 directors.‍Amendment provides that bat will provide written instruction to cause ads of BAT to be issued as stock portion of merger consideration.  Full Article

RAI post-acquisition leadership team announced
Tuesday, 30 May 2017 04:19pm EDT 

May 30 (Reuters) - Reynolds American Inc :Acquisition leadership team announced.Debra Crew will remain as president and CEO of RAI.‍Andrew Gilchrist, currently EVP and CFO of RAI, indicated that, in event of completion of proposed deal, he intends to resign.Gilchrist's replacement will be named in future, and will report to Crew.‍Rai continues to expect the BAT transaction to be completed in Q3 of 2017​.‍Should acquisition be successfully completed, majority of RAI and its subsidiaries' senior executives will remain with RAI companies​.  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

ACCC to deny authorisation to tobacco companies
Wednesday, 14 Dec 2016 09:28pm EST 

Australian Competition and Consumer Commission: To deny authorisation to tobacco companies to jointly stop supply to retailers or wholesalers they believe are supplying illicit tobacco . Identifies British American Tobacco, Imperial Tobacco, and Philip Morris as the tobacco companies .Expects to release its final decision in February 2017.  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 board forms committee to evaluate proposal from British American Tobacco
Monday, 31 Oct 2016 04:49pm EDT 

British American Tobacco Plc : Reynolds American Inc - board forms transaction committee to evaluate proposal from British American Tobacco . Reynolds American Inc - in light of the evaluation of BAT’s proposal, RAI has cancelled its investor day scheduled for Nov. 14, 2016. . Reynolds American-committee retained Weil, Gotshal & Manges Llp and Moore & Van Allen Pllc as legal counsel, Goldman, Sachs & Co. as financial advisor .Reynolds American-in addition, RAI has retained Jones Day as legal counsel and J.P. Morgan Securities Llc and Lazard as financial advisors.  Full Article

BAT to appoint new director for Western Europe
Wednesday, 26 Oct 2016 02:00am EDT 

British American Tobacco Plc : Tadeu Marroco, currently director business development, will be appointed as regional director Western Europe, with effect from Dec.1 2016 . Naresh Sethi, currently regional director Western Europe, will be appointed to role of director business development with effect from Dec.1 2016. .Naresh Sethi, currently regional director Western Europe, will be appointed to role of director business development with effect from Dec.1 2016.  Full Article

British American Tobacco PLC - Members of US Congress call for investigation into tobacco giant - Independent
Saturday, 6 Feb 2016 10:08pm EST 

British American Tobacco PLC:Members of the US Congress have called for a Department of Justice investigation into tobacco giant British American Tobacco following allegations the company bribed officials and politicians in Africa to undermine UN health campaigns and put rival cigarette-makers out of business - Independent.How 'The IoS' broke the story about the bribery allegations in December.Eight congressmen – from both the Senate and the House of Representatives – have made a complaint about BAT, Britain's fifth biggest company, calling for an investigation into whether it has violated the US Foreign Corrupt Practices Act.The bribery allegations, first revealed by The Independent on Sunday and the BBC, are in a dossier of claims passed to the UK's Serious Fraud Office by Paul Hopkins, a BAT whistleblower who worked in Africa for BAT for 13 years.Experts described Mr Hopkins as the most significant whistleblower from the industry since Jeffrey Wigand, subject of the Oscar-nominated film The Insider, starring Russell Crowe.  Full Article