British American Tobacco offers US$47 billion for Reynolds

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 return of BAT to the lucrative and highly regulated US market after a 12-year absence, making it the only tobacco giant with a leading presence in American and international markets.