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Wednesday, January 28, 2015

Reynolds American shareholders approve to purchase Lorillard, (NYSE: LO)

Camel cigarettes maker Reynolds American Inc's shareholders approved its $25 billion acquisition of smaller rival Lorillard Inc. The proposed deal, which was announced last July, has attracted intense antitrust scrutiny as it seeks to combine the No.2 and No.3 U.S. cigarette makers.

Lorillard, Inc. (Lorillard), through its subsidiaries, is engaged in the manufacture and sale of cigarettes and electronic cigarettes. Shares of LO traded higher by 0.62% or $0.41/share to $66.32. In the past year, the shares have traded as low as $46.48 and as high as $67.46. On average, 1842260 shares of LO exchange hands on a given day and today's volume is recorded at 183165.