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Reynolds American's purchase of Lorillard has plenty of benefits for the rival U.S. firms, but the real winner is British American Tobacco.
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.
CNBC's David Faber speaks to Susan Cameron, Reynolds American president & CEO, about the acquisition of Lorillard in a transaction valued at about $27.4 billion. Cameron says the deal gives them the most balanced and well diversified brand portfolio in the sector.
Reynolds American confirmed it has agreed to acquire Lorillard in a transaction valued at $27.4 billion. CNBC's David Faber and Jim Cramer discuss the big tobacco deal. Cramer says he wants to own Reynolds.
*JPMorgan, Goldman up in premarket after earnings. NEW YORK, July 15- U.S. stocks were poised for a slightly higher open on Tuesday after earnings from JPMorgan and Goldman Sachs and ahead of testimony from U.S.
Some of the names on the move ahead of the open.
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.
*JPMorgan, Goldman up in premarket after earnings. *Yahoo, Intel results due after the close. NEW YORK, July 15- U.S. stock index futures were little changed on Tuesday after earnings from JPMorgan and Goldman Sachs, and ahead of testimony from U.S.
LONDON, July 15- Imperial Tobacco Group plans to buy U.S. cigarette brands including Winston and Kool for $7.1 billion as part of Reynolds American's $27.4 billion purchase of Lorillard.
Reynolds American on Tuesday announced plans to acquire Lorillard in a deal the company valued at $27.4 billion.
July 15- Camel cigarettes maker Reynolds American Inc said it would buy rival Lorillard Inc in a cash-and-stock deal valued at $27.4 billion, including net debt. Reynolds offered $68.88 per Lorillard share, representing a premium of 2.5 percent to Lorillard's Monday closing.
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.
NEW YORK, July 14- Smoking-related lawsuits against U.S. tobacco giants are leveling off, making it more likely that a merger between rivals Reynolds American Inc and Lorillard Inc will go through, analysts who follow the industry said.
NEW YORK, July 12- The enduring popularity of menthol may be a big motivator behind Reynolds American Inc's interest in buying smaller rival Lorillard Inc, which has the best-selling U.S. cigarette brand with the additive.
Jim Cramer is a good stock picker but these picks are nothing short of smokin’.
U.S. stocks climbed on Friday, but closed lower for the week, as investors weighed Wells Fargo results and readied for a slew earnings ahead.
BRUSSELS/ MOSCOW- The European Union seeks to reassure Russia that a free-trade pact with Ukraine is not aimed at hurting Moscow, but rejects calls to postpone implementation, offering more talks instead.
*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.