A team of Smith Anderson lawyers assisted in advising British American Tobacco p.l.c. (LSE: BATS) in its merger agreement with Reynolds American Inc. (NYSE: RAI).
Under the terms of the merger agreement, British American Tobacco will acquire the Reynolds American common stock it does not currently own, representing a $49 billion value.
Nicandro Durante, British American Tobacco’s chief executive officer, is quoted in the press release as saying “BAT has consistently executed a winning strategy and has a proven track record of delivering strong results and returns for its shareholders while successfully investing for future growth. Our combination with Reynolds will benefit from utilising the best talent from both organisations. It will create a stronger, global tobacco and NGP business with direct access for our products across the most attractive markets in the world.”
The transaction is expected to close in the third quarter of 2017.
The Smith Anderson team advising British American Tobacco and Cravath, Swaine & Moore, lead counsel, on the merger includes Gerald Roach, Chris Capel, Don Tucker and Josh Diver.
To read the complete British American Tobacco press release, please click here.