BAT-Reynolds blend to light up tobacco M&A
British American Tobacco’s (BAT) acquisition of US rival Reynolds American will trigger other merger talks across the tobacco industry which could see financing deals rolling up to capital markets, loan bankers believe. Silas Brown reports.
BAT’s increased $49bn takeover offer for the 57.8% of Reynolds it does not already own could be big enough to prompt other tobacco firms to consider sharing their cigarettes, as big players eye consolidation to remain competitive and non-US firms look for ways to access the US market....
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