Reynolds American (RAI) Affirms Receipt of British American Tobacco (BTI) Offer; Will Evaluate
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Berenberg Upgrades Reynolds American (RAI) to Buy
October 21, 2016 6:32 AM EDTBerenberg upgraded Reynolds American (NYSE: RAI) from Hold to Buy with a price target of $54.00.
Analyst Jonathan Leinster commented, " Following the recent underperformance of the stock we move from a Hold to a Buy with an unchanged price target of $54/share. We estimate average... More
British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
October 21, 2016 6:17 AM EDTBritish American Tobacco p.l.c. (NYSE: BTI), which owns 42.2% of Reynolds American Inc. (NYSE: RAI), has made a proposal to merge with Reynolds through the acquisition of the remaining 57.8% in the company. US securities laws require BAT to announce its merger proposal promptly after it was made to the Board of Reynolds. As a result, BAT has been unable to have prior negotiations with Reynolds regarding the proposal.
BATs proposal to merge with Reynolds:
Values Reynolds at $56.50 per share, of which $24.13 would be... More
Reynolds American (RAI) option volatility flat into BAT offers to buy out for $56.50 per share
October 21, 2016 5:41 AM EDTBritish American Tobacco (NYSE: BTI), which owns 42.2% of Reynolds American (RAI), has made a proposal to merge with Reynolds through the acquisition of the remaining 57.8% in the company. U.S. securities laws require BAT to announce its merger proposal promptly after it was... More
BAT offers to buy U.S. tobacco firm Reynolds in $47 billion deal
October 21, 2016 2:25 AM EDTBy Martinne Geller, Paul Sandle and Pamela Barbaglia
LONDON (Reuters) - British American Tobacco (NYSE: BATS) has offered to buy out U.S. cigarette maker Reynolds American Inc (NYSE: RAI) in a $47 billion takeover that would create the world's biggest listed tobacco company with brands including Newport, Lucky Strike and Pall Mall.
The cash-and-stock deal would mark the return of BAT to the lucrative and highly regulated U.S. market after a 12-year absence, making it the only tobacco giant with a leading presence in American and... More
