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Merger agreed after months of negotiation
Thursday 19 Jan 2017 Author: Tom Sieber

An improved offer from British American Tobacco (BATS) is enough to seal its merger with US rival Reynolds American (RAI:NYSE). The UK tobacco maker will pay $49.4bn, up 5.6% on its offer from October 2016, to secure the 58% of Reynolds it does not already own. It is confident of achieve $400m synergies through the combination. (TS)

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