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US: Imperial Tobacco confident on Reynolds-Lorillard deal

By  |  May 6, 2015

Imperial Tobacco said it expects its $7.1 billion deal to buy several cigarette brands be completed soon. U.K.-based Imperial agreed to buy the brands, including Winston, Kool and Salem, to head off antitrust concerns following Reynolds’s $25 billion acquisition of Lorillard last summer, writes the Wall Street Journal.

Since the deal was announced, 10 months ago, Imperial has said it expected approval to come in spring 2015.

Chief Executive Alison Cooper said Wednesday that time frame still stood. “Clearly, we’re not in early spring now,” she said. “It’s more like late spring.” Ms. Cooper added that she didn’t anticipate any “material changes” to the agreement with Reynolds and Lorillard. “Clearly around the edges there are some things we could look at,” she said, but “as yet there’s been no change.”

 

Full content: The Wall Street Journal

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