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British American Tobacco offers US$47 billion for Reynolds

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The deal would give BAT more premium brands such as Camel which it can sell in countries such as Russia and Turkey where demand for Western cigarettes is still growing.

London

BRITISH American Tobacco has offered to buy out US cigarette maker Reynolds American Inc in a US$47 billion takeover that would create the world's biggest listed tobacco company with brands including Newport, Lucky Strike and Pall Mall.

The cash-and-stock deal would mark the

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