Reynolds American To Buy Lorillard In $27.4B deal

 
on July 15 2014 7:40 AM
Camel Cigarettes
The Tobacco Master Settlement Agreement, among other measures, prohibits cigarette makers from targeting kids 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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