Susan Cameron is confident regulators will allow the tobacco giant to acquire Lorillard for $24.7 billion.» Read More
WASHINGTON, July 14- U.S. cigarette maker Reynolds American Inc, in talks to buy rival Lorillard Inc, may have a hard time convincing regulators to approve the deal because of their big shares in the traditional cigarette and fast-growing electronic cigarette markets.
*Wells Fargo falls, more banks' earnings due next week. Shares of Wells Fargo& Co., down 0.5 percent at $51.54, were in the spotlight as the biggest U.S. mortgage lender was the first major U.S. bank to report earnings. Wells Fargo's results will be followed next week by earnings from Citigroup, Goldman Sachs, JPMorgan Chase and Bank of America.
*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.
European shares ended the day flat, as traders shrugged off some concerns about the condition of Portugal's banking sector.
*Wells Fargo falls, but revenue tops forecasts. Wells Fargo& Co reported revenue that beat expectations, though for the first time since 2009, the bank did not increase its earnings-per-share from the preceding quarter. Fastenal Co slumped 4.6 percent to $45.92 after revenue missed expectations.
*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.
LONDON, July 11- European stocks opened firmer and lower-rated government bond prices edged up on Friday, as markets settled after a broad pullback overnight on concerns about Portugal's banking sector that highlighted contagion risk in the euro zone.
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.
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 groups. "Imperial would proceed with an acquisition only if its terms met strict transaction criteria," it said.
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 mixed on Tuesday, after the German benchmark DAX hit an all-time high.
A merger between Reynolds American and Lorillard would have benefits in their domestic market. It could also kick off more deals overseas.
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.
The CEO of Imperial Tobacco Group said 2014 will be a key year for innovation as the group looks at products "adjacent to tobacco".
Alison Cooper, CEO of Imperial Tobacco, talks about innovation and reveals the group has hired the inventor of e-cigarettes.
Alison Cooper, CEO of Imperial Tobacco, says the group's performance was very robust in spite of the tough environment and its "transition" program.
European shares closed sharply lower on Thursday after two different U.S. economic reports were released and as U.S. indexes saw their biggest one-day drops since June.