British American Tobacco lights up $47bn Reynolds takeover

British American Tobacco (BAT) has revealed plans to buy out the remaining 57.8 per cent stake in Reynolds, its US partner, in a deal valued at $47bn.
Motivated by a desire to maximise efficiencies of scale, BAT believes it can realise $400m of cost savings following the deal, which it views as a ‘logical progression’ of a 2004 decision to become a minority shareholder in Reynolds.
Such a move, if concluded, would draw some of the cigarette industries biggest brands such as Lucky Str