Unifying brands: The merger proposal is part of a wave of consolidation for the tobacco industry, which is struggling with shrinking demand for traditional cigarettes and an uncertain pathway to new technologies. – Reuters
Deal will create the world’s largest publicly-traded tobacco firm
GENEVA: British American Tobacco
(BAT) Plc raised the cash portion of its bid for full control of Reynolds American Inc, offering about US$49.4bil in a deal that would create the world’s largest publicly traded tobacco company and unify brands such as Lucky Strike and Camel.
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