BAT takeover of Reynolds rumors pick up steam - Winston-Salem Journal: Local Business

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BAT takeover of Reynolds rumors pick up steam

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Posted: Wednesday, July 9, 2014 7:45 pm

The rumor mill about Reynolds American Inc.’s future appears to have spun back to the early speculation involving its largest shareholder, according to British media outlets.

The Daily Mail of London reported Wednesday that British American Tobacco Ltd. may be willing to spend up to $75 a share, equating to $23.3 billion, to buy the remaining 58 percent of Reynolds stock (310 million shares) that it doesn’t own.

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