Tobacco might not be the most popular thing in the world when it comes to health campaigns, but that doesn’t change the fact that a lot of people around the globe are buying it and putting it to their lips. It also doesn’t change that it’s being sold, and now the biggest tobacco company ever is due to open. “World’s biggest tobacco company set to form in late 2017” explains the details.
- Last November Reynolds rejected a $US47 billion offer from BAT, which has stated it stands to make $US400 million worth of savings from the deal.
- Reynolds shareholders will receive $US29.44 in cash and 0.5260 BAT ordinary shares (in BAT American Depository Receipts) for each share owned.
- BAT chief executive Nicandro Durante said the company was very pleased to have reached an agreement and looked forward to making the offer to shareholders.
“Reynolds American executive chairman Susan M. Cameron indicated a strong push towards vaping and other modern tobacco products, stating the merger would allow formation of an industry leader that will focus on innovation and brand building.”