Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksIMT.L Share News (IMT)

  • There is currently no data for IMT

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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)

More News
7 Dec 2015 13:57

CORRECTED-Russian senator submits bill to raise smoking age to 21

(corrects number in second paragraph) MOSCOW, Dec 7 (Reuters) - Russia is considering a bill to raise the legal smoking age to 21 from 18 as part of an ongoing drive to improve public health in a nation of heavy smokers. Senator Anton Belyakov said on Monday he had submitted a bill to

Read more
7 Dec 2015 13:17

Russian parliament to debate raising of smoking age

(ShareCast News) - Reports that Russia could raise the smoking age to 21 from 18 have hit the shares of some big tobacco companies. London-listed cigarette makers Imperial Tobacco and British American Tobacco have so far remained on the up, while US-listed Philip Morris fell more than 2.4% in pre-ma

Read more
4 Dec 2015 11:16

Imperial Tobacco, Japan Tobacco settle patent infringement

LONDON, Dec 4 (Reuters) - Fontem Ventures, a unit of Imperial Tobacco Group, said on Friday that it entered into a license agreement with Japan Tobacco International that settles patent infringement lawsuits concerning e-cigarette technology. Under the terms of the agreement, Fontem has gr

Read more
27 Nov 2015 09:38

BROKER RATINGS SUMMARY: Canaccord Says Buy Charles Stanley

Read more
26 Nov 2015 09:45

BROKER RATINGS SUMMARY: OneSavings Upped To Buy, Aldermore Cut To Hold

Read more
25 Nov 2015 18:11

FEATURE-With U.S.-Cuba detente, a battle over trademarks looms

By Jaime Hamre CAMAGUEY, Cuba, Nov 25 (Reuters) - When Julio Manzini decided two years ago to name his small restaurant McDonald's after the famous fast-food chain, he had no idea it could cause any trouble. He has since been frightened into removing the name. "I don't even know what

Read more
23 Nov 2015 09:33

BROKER RATINGS SUMMARY: UBS Raises Ocado To Buy From Neutral

Read more
23 Nov 2015 08:23

LONDON BRIEFING: UK Defence Plans Boost BAE Systems And Rolls-Royce

Read more
20 Nov 2015 16:54

LONDON MARKET CLOSE: Major Stock Indices End Up For Fifth Straight Day

Read more
20 Nov 2015 14:17

Whitman Howard reiterates 'buy' on Imperial Tobacco

(ShareCast News) - Regardless of whether the speculation swirling around a possible bid for Imperial Tobacco from British American Tobacco pans out or not, the organic story and valuation argument were "compelling enough", Chris Whitman at Whitman Howard said in a research note sent to clients. Whit

Read more
20 Nov 2015 12:05

LONDON MARKET MIDDAY: Dovish Draghi Fails To Ignite Stock Markets

Read more
20 Nov 2015 10:35

WINNERS & LOSERS SUMMARY: Imperial Rises On BAT Takeover Speculation

Read more
20 Nov 2015 09:58

PRESS: BAT Said To Have Gathered Banks For Imperial Tobacco Bid - FT

Read more
18 Nov 2015 15:42

UPDATE 1-British American to test tobacco/e-cigarette hybrid

(Adds quotes, background) By Martinne Geller LONDON, Nov 18 (Reuters) - British American Tobacco plans to test a hybrid product that combines tobacco and e-cigarette technology next week in a European market, a senior executive said on Wednesday. The product, called iFuse, will

Read more
18 Nov 2015 13:21

British American to test tobacco/e-cigarette hybrid

LONDON, Nov 18 (Reuters) - British American Tobacco , the world's No. 2 cigarette maker, will test a hybrid product that uses tobacco and e-cigarette technology next week in an unspecified European market, a senior executive said on Wednesday. The product, called iFuse, will make use of the

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.