U.S. cigarette maker Reynolds American Inc is in talks to acquire rival Lorillard Inc in a multi-billion dollar deal that would include the sale of some brands to Britain's Imperial Tobacco Group Plc , the companies said on Friday.In a statement confirming what people familiar with the matter previously told Reuters, Reynolds, No. 2 player in the United States with brands including Camel and Pall Mall, said the talks were consistent with its strategy of weighing options that would help boost shareholder value.Buying Lorillard, which has a stock market value of $22.9 billion, would give Reynolds the leading U.S. menthol cigarette Newport and its leading e-cigarette blu.It would also give it added scale to compete with Marlboro maker Altria Group Inc, in a market that is shrinking as more Americans quit smoking but which remains one of the biggest and most profitable tobacco markets in the world.
Lorillard, Inc. (Lorillard) is the manufacturer of cigarettes in the United States. Shares of LO traded higher by 0.13% or $0.08/share to $63.09. In the past year, the shares have traded as low as $41.56 and as high as $65.39. On average, 3030530 shares of LO exchange hands on a given day and today's volume is recorded at 4291367.
Altria Group, Inc., is a holding company. At December 31, 2012, Altria Group, Inc. Shares of MO traded higher by 0.35% or $0.15/share to $42.95. In the past year, the shares have traded as low as $33.12 and as high as $43.38. On average, 7212620 shares of MO exchange hands on a given day and today's volume is recorded at 7558654.
Reynolds American Inc. (RAI) is a holding company. Shares of RAI fell by 0.65% or $-0.41/share to $62.26. In the past year, the shares have traded as low as $46.55 and as high as $63.39. On average, 2230330 shares of RAI exchange hands on a given day and today's volume is recorded at 2242740.
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