The US Federal Trade Commission has reportedly issued a second request for information to two major US tobacco companies as the authority reviews their plans to merge.
Reynolds American and Lorillard agreed last month to merge in a $25 billion transaction, but the firms announced late last week that the FTC is seeking more information regarding the deal. The cigarette makers said they are cooperating fully with regulators and said that the second request does not change their timeline for the deal.
The companies said they expect to finalize their merger in the first half of next year.
Reynolds will acquire Lorillard in a plan that would leave the US with just two tobacco rivals that control 90 percent of the industry. According to reports, the companies have already offered to sell some brands including Kool and Blu e-cigarettes for $7.1 billion to competitor Imperial Tobacco Group, based in the UK, to appease competition concerns.
Full content: Daily Herald
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI