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Thursday, September 24, 2015

Japan Tobacco in talks to purchase Reynolds assets worth $5 billion -Bloomberg, (NYSE: RAI)

Japan Tobacco Inc is in advanced talks to purchase assets worth about $5 billion from Reynolds American Inc, including some of the Natural American Spirit tobacco brand, Bloomberg reported on Thursday.The talks could still fall apart and the size of the deal and nature of assets could change, Bloomberg said, citing people familiar with the talks. ( Both companies failed to comment on the report.Shares in Japan Tobacco closed morning trade up 3.0 percent, while the benchmark Nikkei average was flat.

Reynolds American Inc. (RAI) is a holding company. Shares of RAI fell by 1.93% or $-0.83/share to $42.11. In the past year, the shares have traded as low as $28.14 and as high as $44.14. On average, 6086820 shares of RAI exchange hands on a given day and today's volume is recorded at 10670508.