Source: Richard Craver, WINSTON-SALEM JOURNAL, 1/18/17


Reynolds American Inc.’s board of directors on Tuesday accepted British American Tobacco PLC’s $49.4 billion megaoffer, another iconic local company bought by a larger global rival. Getting Reynolds to accept the deal required British American Tobacco, or BAT, for short, to raise its offer by another $2.4 billion — raising the value of the deal to $49.4 billion — for the remaining 57.8 percent of Reynolds that BAT did not already own.

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