The "Fast Money" traders discuss the trade on cigarette stocks.
Reynolds shareholders will receive $29.44 in cash and 0.5260 BAT shares for each of their shares under the terms of the deal.
Jim Cramer says he had an epiphany for Philip Morris to remain dominant in the tobacco world.
CNBC's David Faber speaks with Susan Cameron, Reynolds American executive chairman, about the $49 billion deal with British American Tobacco.
Thomas Russo, Gardner, Russo & Gardner LLC parner, and Brian Milligan, Ave Maria Growth Fund co-manager, weigh in on Calpers' ban on tobacco investments.