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According to US legislation on the securities market, companies must announce mergers and acquisitions soon after the proposal is sent to the board. This is why BAT had no possibility to hold preliminary talks, said the British company.
Reynolds’ market capitalization went up by 1.9%, to $ 66 billion, on Thursday. BAT’s capitalization is about 89 billion pounds ($ 109 billion).
British American Tobacco is one of the world leading manufacturers of tobacco products. The company's shares are traded on the London Stock Exchange (LSE), New York Stock Exchange (NYSE) and Johannesburg Stock Exchange (JSE).
BAT operates on 200 national markets, and is a leader on 55 of them. In recent years, the company has focused its aspirations on emerging markets, particularly, on Ukraine, Bangladesh, Russia, Vietnam and Turkey. The company says that demand for premium cigarettes is only increasing in these countries.
Reynolds American Group was founded in 2004; its shares are traded on the New York Stock Exchange. Reynolds is the second largest tobacco corporation in the United States, which controls more than a quarter of the cigarettes market in the country. The group consists of R.J. Reynolds Tobacco Co., American Snuff Co., Santa Fe Natural Tobacco Co., Niconovum USA Inc., Niconovum AB and R.J. Reynolds Vapor Co.
Main brands of Reynolds are cigarettes Camel and Pall Mall, smokeless tobacco products Grizzly and Kodiak, electronic cigarettes Vuse.
In the III quarter of 2016, Reynolds American's net income was $ 861 million, which is 31.1% less than in the same period of 2015 ($ 657 million), the company said.
Net proceeds of Reynolds American in the III quarter of 2016 was $ 3.21 billion, while the company received $ 3.16 billion in the III quarter of 2015. Thus, the index has risen by 1.4%. The company’s operating profit in the III quarter of 2016 was $ 1.53 billion, which is 26.5% more than in the same period of 2015 ($ 1.21 billion).
Reuters notes that number of smokers in the United States, and all across the globe in general, is declining. Falling demand resulted from growing awareness of harm of this habit, tightening of state regulations on tobacco market and constantly raising taxes. Now, all major tobacco companies are investing in production of electronic cigarettes and similar products.
source: nytimes.com
Reynolds’ market capitalization went up by 1.9%, to $ 66 billion, on Thursday. BAT’s capitalization is about 89 billion pounds ($ 109 billion).
British American Tobacco is one of the world leading manufacturers of tobacco products. The company's shares are traded on the London Stock Exchange (LSE), New York Stock Exchange (NYSE) and Johannesburg Stock Exchange (JSE).
BAT operates on 200 national markets, and is a leader on 55 of them. In recent years, the company has focused its aspirations on emerging markets, particularly, on Ukraine, Bangladesh, Russia, Vietnam and Turkey. The company says that demand for premium cigarettes is only increasing in these countries.
Reynolds American Group was founded in 2004; its shares are traded on the New York Stock Exchange. Reynolds is the second largest tobacco corporation in the United States, which controls more than a quarter of the cigarettes market in the country. The group consists of R.J. Reynolds Tobacco Co., American Snuff Co., Santa Fe Natural Tobacco Co., Niconovum USA Inc., Niconovum AB and R.J. Reynolds Vapor Co.
Main brands of Reynolds are cigarettes Camel and Pall Mall, smokeless tobacco products Grizzly and Kodiak, electronic cigarettes Vuse.
In the III quarter of 2016, Reynolds American's net income was $ 861 million, which is 31.1% less than in the same period of 2015 ($ 657 million), the company said.
Net proceeds of Reynolds American in the III quarter of 2016 was $ 3.21 billion, while the company received $ 3.16 billion in the III quarter of 2015. Thus, the index has risen by 1.4%. The company’s operating profit in the III quarter of 2016 was $ 1.53 billion, which is 26.5% more than in the same period of 2015 ($ 1.21 billion).
Reuters notes that number of smokers in the United States, and all across the globe in general, is declining. Falling demand resulted from growing awareness of harm of this habit, tightening of state regulations on tobacco market and constantly raising taxes. Now, all major tobacco companies are investing in production of electronic cigarettes and similar products.
source: nytimes.com
