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British American Tobacco agrees $49bn deal to take over rival

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Jefferies International Gives British American Tobacco PLC Price Target With Potential -40.79% Downside

Jefferies International Gives British American Tobacco PLC Price Target With Potential -40.79% Downside*/

– On Monday Jefferies International reiterated its target price on British American Tobacco PLC (LON:BATS) shares issuing the company with a ‘Buy’ rating.Jefferies International gave the share price of British American Tobacco PLC a price target of 2800 meaning the broker expects a potential downside of -40.79% from British American Tobacco PLC’s current market price of 4729.07.British American Tobacco PLC has 1,858,000,000 shares outstanding at the moment which are trading around 4729.07 bringing British American Tobacco PLC’s market capitalisation to 87.87B GBP.
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The Citigroup Inc. Reiterates Buy Rating for British American Tobacco plc (BATS)

The Citigroup Inc. Reiterates Buy Rating for British American Tobacco plc (BATS)*/

– British American Tobacco plc (LON:BATS)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a report issued on Tuesday.Other analysts have also recently issued reports about the stock.Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 5,300 ($66.22) price objective on shares of British American Tobacco plc in a research note on Monday, August 22nd.
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British American Tobacco Deal With Reynolds American Hits Road Bump

British American Tobacco Deal With Reynolds American Hits Road Bump*/

– – By Alberto AbaterussoA deal for British American Tobacco (BTI) to buy the rest of Reynolds American (RAI) for $47 billion in cash and stock, has run into an unexpected problem, as reported by the website StreetInsider.comIt is not exactly clear which problem is complicating the deal.Owen Bennett, analyst at Jefferies & Co., said that the problem “is likely to do with how BAT is choosing to sweeten the deal” and he suspects that the “deal is being driven by access to Reynolds heat not burn technology,” as reported by the website StreetInsider.com.British American Tobacco already holds 42.2% of Reynolds American’s shares outstanding and offered to buy the rest of the American tobacco producer based on a valuation of $56.50 per share, which represents a 19.8% premium to the closing share price of Reynolds American on Oct. 20, 2016.
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British American Tobacco agrees $49bn deal to take over rival

British American Tobacco agrees $49bn deal to take over rival*/

– Reynolds, which owns the Camel and Newport brands, is the second largest seller of cigarettes in the United States ReutersBritish American Tobacco has agreed terms of a $49.4 billion recommended offer to take control of Reynolds American, the second largest seller of cigarettes in the United States.An earlier $47 billion offer to create the world’s largest listed tobacco company by turnover was rejected in November as too low.The agreed offer to buy the 57.8 per cent of Reynolds that BAT does not already own will give shareholders in the US company $29.44 in cash and 0.5260 of BAT a share for each share they hold.
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British American Tobacco PLC coughs up another US$2.4bn to win support of the board of American Reynolds Inc

British American Tobacco PLC coughs up another US$2.4bn to win support of the board of American Reynolds Inc*/

– The wrangling is over and both sides seem happyWith 42.2% of the shares under its control, this merger always looked certain to happen but it has come at a costThe wrangling over what price (LON:BAT) would pay for American Reynolds Inc (NYSE:RAI) has ended favourably for the US cigarettes company.BATS has upped its offer for the 57.8% of Reynolds it does not already own to US$29.44 in cash plus 0.526 BATS shares per Reynolds share owned.The terms imply a total current value of $59.64 per Reynolds share, versus the US$47.17 BATS was originally offering, with the cash element rising from US$24.13.
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