British American Tobacco to acquire Reynolds as activists decry merger - News Summed Up

British American Tobacco to acquire Reynolds as activists decry merger


British American Tobacco (BAT) has come under fire from health campaigners after shareholders approved its buyout of American firm Reynolds on Wednesday, which will create the world’s biggest tobacco company. It ends American ownership of Reynolds American Incorporated (RAI), a tobacco company headquartered in the US south since 1875. His spouse, 53-year-old Lucy Goode, said several generations of men in her family had worked for one or the other tobacco company. In addition, American Tobacco Company struck an agreement with Imperial Tobacco in the UK. But in 1911, the US government succeeded in its efforts to break up the monopoly, and the American tobacco giant RJ Reynolds, as well as British American Tobacco, were born out of American Tobacco Company’s dissolution.


Source: The Guardian July 19, 2017 18:45 UTC



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