London (AFP) – British American Tobacco agreed Tuesday to pay almost $50 billion (47 billion euros) for control of US firm Reynolds American, creating the world’s largest listed tobacco company.
The maker of Lucky Strike and Rothmans cigarettes will purchase the 57.8-percent of Reynolds American that it does not already own, BAT said in a statement, unveiling an improved cash-and-shares offer after the US giant — whose brands include Camel and Newport — had rejected its previous $47-billion bid.