Reynolds American (RAI) Affirms Receipt of British American Tobacco (BTI) Offer; Will Evaluate

October 21, 2016 6:38 AM EDT

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Reynolds American Inc. (NYSE: RAI) acknowledges that it has received a non-binding proposal from British American Tobacco p.l.c. (BAT) to purchase the approximately 58 percent of RAI common stock that BAT does not currently own.

The RAI board of directors, consistent with their fiduciary duties, will evaluate the offer from BAT and respond accordingly.

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