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NEW YORK/ LONDON, July 15- Reynolds American Inc had no choice but to sell Lorillard Inc's top-selling blu electronic cigarettes brand after Britain's Imperial Tobacco Group Plc insisted it be part of a wider portfolio of assets it is buying, a source familiar with the transaction said.
July 15- Reynolds American Inc said it would buy rival Lorillard Inc for about $25 billion, merging two of the world's biggest cigarette makers amid a slowdown in sales. Reynolds, whose brands include Camel and Pall Mall, offered $68.88 per Lorillard share, representing a premium of 2.5 percent to Lorillard's Monday closing.
*Reynolds, Lorillard marriage seen making $500 mln savings. LONDON, July 11- U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would reshape one of the world's biggest and most profitable tobacco markets, the companies said on Friday.
*Lorillard market value is $22.9 bln. LONDON, July 11- U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would include the sale of some brands to Britain's Imperial Tobacco Group Plc, the companies said on Friday.
*Reynolds, Lorillard not available to comment. LONDON, July 11- U.S cigarette makers Reynolds American Inc and Lorillard Inc are in talks on a possible multi-billion dollar disposal to Britain's Imperial Tobacco Group Plc, as part of efforts to ease antitrust concerns over their planned merger.
Reynolds American and Lorillard are agreeing a complex merger that will reshape Big Tobacco, bringing together the two biggest US operators.
LONDON, July 11- Imperial Tobacco, the world's fourth-largest tobacco group, said on Friday it was in talks with Reynolds and Lorillard to acquire certain assets and brands that could be sold by the two companies. Reynolds and Lorillard are in advanced talks about a deal that would merge the No.2 and No.3 U.S. cigarette makers, Reuters has previously reported.
Sources told CNBC that a Lorillard and Reynolds American merger is weeks away, although the companies have not fully negotiated terms.
July 3- Tobacco majors Lorillard Inc and Reynolds American Inc are likely to merge as early as end of July, CNBC reported, citing sources.
European shares closed slightly up on Thursday, after wavering throughout the day on mixed manufacturing and services data.
European shares closed lower lower on Monday with basic resources stocks weighing heavily on bourses after weak data from China.
A merger between Reynolds American and Lorillard would have benefits in their domestic market. It could also kick off more deals overseas.
Tobacco companies that split apart to protect investors from litigation may consider reuniting, especially BAT and Reynolds American.
British American Tobacco will soon be free to build on its 42 percent stake in Reynolds American Inc. But bankers say British American could also take interest in U.K. rival Imperial Tobacco Group if it can overcome antitrust hurdles in Europe. CNBC's John Jannarone explains.
A court ruling to restrict the sale of e-cigarettes in France this week could knock the nascent e-cigarette industry off course.
European equities closed higher on Thursday on euro zone data and a positive handover from Wall Street boosting investor sentiment.
U.S. stock index futures signaled a sharply lower open Wednesday, amid worries over financial conditions in China and as investors digested a mixed bag of corporate earnings.
Traditional tobacco companies need to adapt to the rise of electronic cigarettes - or e-cigarettes - ahead of the product becoming regulated in the U.K., according to an analyst at Berenberg Bank.
TheStreet.com looks at some of the worst positioned stocks from a technical analysis standpoint. For investors looking to buy one of these names, it makes sense to wait for more favorable technical conditions (and a lower share price) before piling in, the writer argues.
Steve Sedgwick takes you through British American Tobacco.