Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Reynolds American to buy Lorillard in $27.4 billion deal

Send a link to a friend  Share

[July 15, 2014]  (Reuters) - Camel cigarettes maker Reynolds American Inc said it would buy rival Lorillard Inc 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 for $7.1 billion in cash.

(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)

[© 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Civic

< Top Stories index

Back to top