BAT to pay US$49bil to buy out Reynolds American

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.