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US: Shareholders OK $25 billion tobacco takeover

 |  January 29, 2015

Camel cigarette maker Reynolds American planned $25 billion takeover of Newport seller Lorillard Inc. is moving forward after shareholders approved the deal at special shareholder meetings Wednesday.

The deal announced in July would combine two of the nation’s oldest and biggest tobacco companies, creating a formidable No. 2 to Richmond, Virginia-based Altria Group Inc., owner of Philip Morris USA.

Expected to close in the first half of 2015, the merger faces further federal antitrust scrutiny over how the combination would affect competition in a highly competitive market.

Full Content: The Wall Street Journal

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