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BUZZ-Imperial Tobacco: nears record as Reynolds/Lorillard deal gets FTC clearance

Reuters - UK Focus

** Imperial Tobacco (LSE: IMT.L - news) (IMT) within easy grasp of a record after Reynolds/Lorillard (NYSE: LO - news) deal wins US antitrust approval, within which IMT is acquiring cigarette brands

** IMT, up 2 pct, 1 pct shy of an all-time high hit end April (stock up c.26 pct since deal announced July (vs 3.6 pct rise from rival British American Tobacco (LSE: BATS.L - news) ))

** FTC said it would allow the Reynolds/Lorillard deal to go forward on condition cos sell four cigarette brands - Winston, Kool, Salem and Maverick. IMT purchasing them

** Jefferies flags that the deal will result in IMT being a stronger #3 player in the US, to Altria and Reynolds/Lorillard, with c.10% share (vs 4% now)

** Broker notes deal expected to be 10%-20% accretive to IMT's EPS pro-forma, equivalent to 225p to 250p relative to a current FY16 consensus ex the deal of around 205p (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)