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4-Traders Homepage  >  Equities  >  Nyse  >  Reynolds American, Inc.    RAI

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British American Tobacco : Proposed Acquisition of Reynolds American Inc. approved by BAT shareholders

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07/20/2017 | 10:44am CEST

British American Tobacco p.l.c. ("BAT" or the "Company") is pleased to announce that the acquisition by a subsidiary of the Company, of the remaining 57.8% of Reynolds American Inc. ("Reynolds") not already held by the Company and its subsidiaries (the "Proposed Acquisition") has been approved by BAT shareholders. Reynolds has also announced that its shareholders have approved the Proposed Acquisition.

BAT's Chief Executive, Nicandro Durante, commented:

"We are delighted with the overwhelming support we have received, both from BAT shareholders and from Reynolds shareholders. The transaction is expected to complete on or around 25 July. We look forward to welcoming Reynolds group employees to British American Tobacco and to realising the benefits of operating these two great companies as one stronger, global tobacco and Next Generation Products business with direct access for our products across the most attractive markets in the world."

On the day of completion, BAT's American Depositary Shares will cease trading on the New York Stock Exchange MKT and commence trading on the New York Stock Exchange under the existing trading symbol "BTI".

The General Meeting of the Company was held at Hilton London Bankside, 2-8 Great Suffolk Street, London SE1 0UG on 19 July 2017 at 2.00pm.

The resolution to approve the Proposed Acquisition and give the directors authority to allot BAT ordinary shares in connection with the Proposed Acquisition (the "Resolution") was passed at the Company's General Meeting.

The table below sets out the results of the poll on the Resolution. Each shareholder present in person or by proxy was entitled to one vote per share. Resolution 1

Approval of the Proposed Acquisition and authority for directors to allot shares in connection with the Proposed Acquisition For - Note (b) 1,456,354,848 Percent of Votes Cast 99.90% Percent of Issued Share Capital 78.11% Against 1,512,338 Percent of Votes Cast 0.10% Percent of Issued Share Capital 0.08% Total Votes Cast (Excl. Votes Withheld) 1,457,867,186 Percent of Issued Share Capital 78.19% Votes Withheld - Note (c) 7,014,348 Enquiries

British American Tobacco Press Office

+44 (0) 20 7845 2888 (24 hours) | @BATPress

British American Tobacco Investor Relations

Mike Nightingale / Rachael Brierley / Sabina Marshman

+44 (0) 20 7845 1180 / 1519/ 1781

FTI Consulting (UK PR agency)

John Waples: +44 (0)20 3727 1515

Edward Bridges: +44 (0)20 3727 1067

David Waller: +44 (0)20 3727 1651

Sard Verbinnen & Co. (US PR agency)

US: George Sard / Jim Barron: +1 212 687 8080

UK: Elizabeth Smith: +44 (0)20 3178 8914

Centerview Partners

UK: Nick Reid / Hadleigh Beals: +44 (0)207 409 9700

US: Blair Effron: +1 212 380 2650

Deutsche Bank

UK: Nigel Meek / James Ibbotson

Matt Hall / Jimmy Bastock (Corporate Broking)

+44 (0)207 545 8000

US: James Stynes: +1 212 250 2500

UBS

John Woolland / James Robertson

David Roberts/ Alia Malik (corporate broking)

+44 (0)207 568 1000

.

(c) 2017 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials ($)
Sales 2017 12 915 M
EBIT 2017 6 250 M
Net income 2017 3 633 M
Debt 2017 11 339 M
Yield 2017 3,03%
P/E ratio 2017 26,38
P/E ratio 2018 24,29
EV / Sales 2017 8,27x
EV / Sales 2018 7,97x
Capitalization 95 433 M
Chart REYNOLDS AMERICAN, INC.
Duration : Period :
Reynolds American, Inc. Technical Analysis Chart | RAI | US7617131062 | 4-Traders
Technical analysis trends REYNOLDS AMERICAN, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 63,0 $
Spread / Average Target -5,9%
EPS Revisions
Managers
NameTitle
Debra Ann Crew President, Chief Executive Officer & Director
Susan M. Cameron Non-Executive Chairman
Andrew D. Gilchrist Chief Financial Officer & Executive Vice President
Nana Mensah Independent Director
Martin D. Feinstein Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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BRITISH AMERICAN TOBACCO18.68%132 874
IMPERIAL BRANDS-1.28%43 560
SWEDISH MATCH1.79%6 664
ESSENTRA20.50%1 898