Camel cigarettes maker Reynolds American Inc said it would purchase rival Lorillard Inc in a cash-and-stock deal valued at $27.4 billion, including net debt. Reynolds offered $68.88 per Lorillard share, representing a premium of 2.5 percent to Lorillard's Monday closing.
Lorillard, Inc. (Lorillard) is the manufacturer of cigarettes in the United States. Shares of LO traded higher by 1.83% or $1.21/share to $67.22. In the past year, the shares have traded as low as $41.56 and as high as $67.46. On average, 3259580 shares of LO exchange hands on a given day and today's volume is recorded at 5035785.
Reynolds American Inc. (RAI) is a holding company. Shares of RAI traded higher by 2.32% or $1.43/share to $63.18. In the past year, the shares have traded as low as $46.55 and as high as $63.39. On average, 2264170 shares of RAI exchange hands on a given day and today's volume is recorded at 3255552.
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