Reynolds American To Buy Lorillard In $27.4B deal

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Camel Cigarettes
Enforcing the latest set of smoking restrictions in the Chinese capital has proved tough, so WeChat rolled out an app that will allow fellow Beijingers to upload pictures of those who ignore smoking regulations in an effort to clamp down on the habit. Reuters

(Reuters) -- Camel cigarettes maker Reynolds American Inc (NYSE:RAI) said it would buy rival Lorillard Inc (NYSE:LO) in a cash-and-stock deal valued at $27.4 billion, including net debt.
 
Reynolds offered $68.88 per Lorillard share, representing a premium of 2.5 percent to Lorillard's Monday closing.
 
Reynolds also said it would sell its Kool, Salem, Winston, Maverick and blu eCigs brands and other assets to Imperial Tobacco Group (LON:IMT) for $7.1 billion in cash.
 
(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)

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