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Big Tabacoo Joining Forces
28 january 2015

Reynolds American Inc.’s shareholders approved its $25 billion acquisition of Lorillard Inc., in a deal that would bring the No.2 and No.3 U.S. cigarette companies together. The deal, was originally announced back in July, has attracted intense antitrust scrutiny as a successful merger would lead to a market that is 90% dominated by just two companies. The new company would control 40% of the U.S. cigarettes market. Altria Group Inc. leads the market with 49% market share.

Reynolds shares went up 2% to a record high and Lorillard shares came up 1% in early day trading.

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