Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1680
    +0.0024 (+0.20%)
     

  • GBP/USD

    1.2498
    -0.0013 (-0.11%)
     

  • Bitcoin GBP

    51,209.04
    -542.96 (-1.05%)
     

  • CMC Crypto 200

    1,332.18
    -64.36 (-4.61%)
     

  • S&P 500

    5,107.43
    +59.01 (+1.17%)
     

  • DOW

    38,294.91
    +209.11 (+0.55%)
     

  • CRUDE OIL

    83.91
    +0.34 (+0.41%)
     

  • GOLD FUTURES

    2,350.40
    +7.90 (+0.34%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

BAT offers to buys U.S. tobacco firm Reynolds in $47 billion deal

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 21 (Reuters) - British American Tobacco (Kuala Lumpur: 4162.KL - news) has offered to buy U.S. tobacco company Reynolds American Inc (NYSE: RAI - news) in a $47 billion deal bringing together Newport, Kent and Pall Mall cigarettes to create the U.S. market leader.

The British group, which has a 42 percent stake in Reynolds, said its offer valued the company's shares at $56.50, of which $24.13 would be in cash and $32.37 would be in BAT shares, representing a premium of 20 percent over the closing price of Reynolds common stock on Oct. 20.

The total consideration for the remaining 57.8 percent of Reynolds would be $47 billion, of which approximately $20 billion would be in cash and $27 billion in BAT shares, it said on Friday. (Reporting by Paul Sandle; editing by Susan Thomas)