RJ Reynolds’ merger backed by investors
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Manufacturing News, Source : TheManufacturer.com
Published : 30 Jul 2004 10:44
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Shareholders back tobacco giant RJ Reynolds’ proposed $3.2 billion merger with Brown & Williamson.
A vast majority (98.8 per cent) voted in favour of RJ Reynolds’ shareholders supported the merger with the US unit of British American Tobacco (BAT).
Under the agreement BAT will retain a 42 per cent stake in the new company.
The deal which was originally announced in October is now expected to close on 31 July
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