[Intl-tobacco] BAT to bid for RJR?

[Robert Weissman]

REPORT: BAT TO BID FOR REYNOLDS

Source: Business Journal of the Greater Triad Area
Date: 2003-09-11
URL: http://triad.bizjournals.com/triad/stories/2003/09/08/daily42.html
ID: 137509

A London newspaper reported that British American Tobacco PLC is
"on the verge of bidding for" R.J. Reynolds Tobacco Holdings.

The Daily Mail said in a Sept. 10 story that industry sources
insist BAT, owner of U.S.-based Brown & Williamson, "is ready to
pay a significant cash premium for RJR." Confirmation of the
deal is expected within the next week, the paper said.

The paper noted that hurdles include overcoming regulatory
concerns, since Reynolds and B&W are the Nos. 2 and 3 makers of
cigarettes in the United States.