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Reynolds-Lorillard merger clears final hurdle, judge okays brand transfer

Mon, 08th Jun 2015 16:06

WASHINGTON, June 8 (Reuters) - Reynolds American Inc on Monday cleared the final hurdle for its roughly $27.4 billionpurchase of smaller rival Lorillard Inc as a federaljudge approved its request to sell several cigarette brands.

The companies expect to close on June 12, they said in apress release.

U.S. District Judge Gladys Kessler in Washington, D.C.granted an unopposed motion allowing the transfer of the Kool,Maverick, Salem and Winston brands to Imperial Tobacco Group Plc.

Last month, the Federal Trade Commission approved Reynolds'purchase of Lorillard, which would combine the second- andthird-largest U.S. tobacco companies, if they divested the fourcigarette brands.

Imperial is the fourth-largest tobacco company globally.

Kessler authorized the transfer after being assured bytobacco companies that it would not affect television spots theyair to correct previous deceptive advertisements.

The judge is overseeing an unrelated case brought by theUnited States in 1999 that accused cigarette companies of beingdeceptive in marketing about the risks of cigarette smoking.

Reynolds, which makes Camel and Pall Mall, said in July 2014it would buy Lorillard, which makes Newport. Altria Group, which produces Marlboro cigarettes, remains the U.S.market leader.

The case is U.S. v. Philip Morris USA Inc et al, U.S.District Court, District of Columbia, No. 99-02496. (Reporting by Diane Bartz; Editing by Alan Crosby)

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