This morning BAT announced that it had reached an agreement to acquire the remaining stake in Reynolds (57.8%). The proposed price is c.5.5% higher than the initial offer in October and values Reynolds shares at $59.64 each and the remaining Reynolds stake at c. $49.4bn. Reynolds’ shareholders will receive for each Reynolds share $29.44 in cash and 0.5260 BAT ordinary shares which shall be represented by BAT American Depository Receipts (ADRs) listed on the New York Stock Exchange. The
17 Jan 2017
BAT takes control of Reynolds for $49.4bn
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BAT takes control of Reynolds for $49.4bn
British American Tobacco p.l.c. (BATS:LON) | 2,346 0 0.0% | Mkt Cap: 52,320m
- Published:
17 Jan 2017 -
Author:
Anna Zyniewicz -
Pages:
3
This morning BAT announced that it had reached an agreement to acquire the remaining stake in Reynolds (57.8%). The proposed price is c.5.5% higher than the initial offer in October and values Reynolds shares at $59.64 each and the remaining Reynolds stake at c. $49.4bn. Reynolds’ shareholders will receive for each Reynolds share $29.44 in cash and 0.5260 BAT ordinary shares which shall be represented by BAT American Depository Receipts (ADRs) listed on the New York Stock Exchange. The