Baku, January 18, AZERTAC
DUNHILL and Lucky Strike firm British American Tobacco has agreed a £40.8 billion ($49.4 billion) takeover of US rival Reynolds in a deal creating the world's largest listed tobacco company, according to express.co.uk.
BAT, which currently owns 42.2 per cent of Reynolds, will pay £49.27 ($59.64) per share for the remaining 57.8 per cent of the company in an improved offer after originally tabling a £38.8 billion ($47 billion) approach in October.
The deal will bring together a raft of global brands under one roof, including BAT products Rothmans, Kool and Kent, and Reynolds' brands such as Newport, Camel, Pall Mall, Doral, Misty and Capri slims.
BAT has more than 200 brands sold in some 200 markets and employs over 50,000 staff worldwide.
It claims to sell its cigarette brands to one in eight of the world's one billion smokers.
Reynolds is the second biggest player in the US market, with three out of the four top- selling cigarette brands
The US firm has a 34 per cent cigarette market share, with Newport the leading brand in menthol, Pall Mall the leading value brand and Natural American Spirit, the fastest growing premium brand.