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British American Tobacco to pay $49.4bn for 57.8% of rival Reynolds not already owned (click for more)

Reynolds shareholders will receive $29.44 in cash for each share and 0.5260 BAT ordinary shares which shall be represented by BAT American Depository Receipts (ADRs) listed on the New York Stock Exchange

The deal implies a total current value of $59.64 per Reynolds share and a premium of 26% over the closing price of Reynolds common stock on 20 October (the last day prior to BAT’s announcement of a proposal to merge with Reynolds).

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