Hints and tips:
...Reynolds completed a $27bn merger with Lorillard last year, making it the second-largest US tobacco company by sales with 35 per cent market share, behind Altria....
...Its net debt to trailing earnings before interest depreciation and amortisation is 2.6 times according to S&P Global data. What does this mean for the rest of the tobacco industry?...
...Tobacco stocks were among the biggest fallers amid concern about the wider impact of a potential regulatory block on the proposed $25bn merger of America’s Reynolds and Lorillard in the US....
...Cigarette makers Lorillard and Reynolds, in which British American Tobacco owns a significant minority stake, struck a complicated four-party deal that also involved Imperial Tobacco....
...The trend of single-product expansion was best highlighted this year by the announcement of a complex four-way deal between Reynolds American, Lorillard, British American Tobacco and Imperial Tobacco....
...Reynolds American shares faltered after Standard & Poor’s placed it and fellow tobacco company Lorillard on credit watch negative, a sign it could downgrade or affirm each rating in the coming months as...
...Shares in tobacco groups Lorillard and Reynolds American jumped on merger speculation, after a CNBC report that the two were nearing a deal, following on rumours of talks earlier this year....
...Reynolds American and Lorillard, two of America’s largest tobacco companies, confirmed on Friday a Financial Times report that they were in talks to combine....
...While the report did not directly connect any companies to the farms involved, it describes “common practice” in tobacco cultivation, said co-author Jane Buchanan....
...Lorillard shares fell 1.98 per cent to $62.27, Reynolds American declined 1.36 per cent to $60.94 and Altria dipped 0.80 per cent to $42.35....
...Only Centerview, which has worked on some of the largest deals this year, including the complex four-way transaction between Lorillard, Reynolds American, British American Tobacco and Imperial Tobacco, featured...
...Back on the top tier, hopes that Imperial Tobacco could be the latest candidate for a full-blown transatlantic merger went up in smoke on news that its US peer Reynolds is to purchase compatriot Lorillard...
...The deal, which values Lorillard at $68.88 a share, combines America’s second- and third-largest tobacco companies – creating a formidable rival to Marlboro-maker Altria in the world’s most profitable cigarette...
...Estée Lauder shares were among the worst performing on the benchmark S&P 500 after the company said profits slid 3 per cent in the fourth quarter to $432.5m, or $1.09 per share....
...(Financial Times) “Reynolds Americanis in active discussions to buy Lorillard in a complicated, three-way transaction that could see British American Tobacco take a major role to back a potential merger...
...Mr Gutman also advised Imperial Tobacco on its deal to buy a portfolio of brands from its rival Lorillard....
...(WSJ) Reynolds American, the US tobacco giant, is exploring a bid for its rival Lorillard, shaking up a global tobacco market that is already being reshaped by falling smoking rates and the growth of electronic...
...payments were not weighing on the company....
...Lorillard , the maker of Newport cigarettes, fell 0.6 per cent to $114.97 after earnings per share of $1.94 came in below average analyst expectations....
...The company will pay a maiden dividend of 10 cents a share. The company was one of the leading gainers on the S&P 500, its shares up 3 per cent for the week to $43.65....
...Cigarette manufacturers rose on news that a group of companies led by Lorillard are suing the US government over planned graphic health warnings on cigarette packaging....
...The list includes Lorillard, the cigarette manufacturer, a high dividend paying stock that has climbed 32 per cent this year....
...Consumer staples stocks also suffered, led by Lorillard Tobacco, which was down 1.7 per cent to $110.01....
...In the first three trading sessions of last week, the S&P fell 2.8 per cent on similar concerns....
...Among the defensive stocks, Imperial Tobacco gained 1.7 per cent to £18.30 as Evolution Securities argued that a rumoured $14bn bid for Lorillard, the US tobacco maker, looked unlikely at the moment....
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