BAT agrees to buy Reynolds for US$49 billion
British American Tobacco has agreed a US$49.4 billion takeover of U.S. rival Reynolds American Inc, creating the world's biggest listed tobacco company after it increased an earlier offer by more than US$2 billion.
BAT, which already owned 42 percent of Reynolds, will pay US$29.44 in cash and 0.5260 BAT shares for each Reynolds share, it said, a 26 percent premium over the price of the stock
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