{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Where there’s smoke – British American Tobacco bids for Reynolds American' data-url='/boclips/videos/6878f368efa60ff713f242ee' data-video-url='/boclips/videos/6878f368efa60ff713f242ee' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nWhere there’s smoke – British American Tobacco bids for Reynolds American\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eA huge merger is in the offing in the cigarette world.  British American Tobacco wants to roll up the 58 percent of Reynolds American that it does not already own.  It is offering $47 billion (43 billion euros), $20 billion (18.4 billion...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eA huge merger is in the offing in the cigarette world. \u003cbr/\u003e\u003cbr/\u003e British American Tobacco wants to roll up the 58 percent of Reynolds American that it does not already own. \u003cbr/\u003e\u003cbr/\u003e It is offering $47 billion (43 billion euros), $20 billion (18.4 billion euros) in cash and the rest in shares. \u003cbr/\u003e\u003cbr/\u003e A tie-up would create the world’s number one listed tobacco company – bigger than Philip Morris -and the largest seller in the United States. \u003cbr/\u003e\u003cbr/\u003e “The main reason for the deal is for BAT to be in the United States,” a company spokeswoman said, noting that BAT did not have a direct presence there.\u003cbr/\u003e\u003cbr/\u003e Reynolds has yet to respond and said it would evaluate the unsolicited offer. \u003cbr/\u003e\u003cbr/\u003e Declining, consolidating industry\u003cbr/\u003e\u003cbr/\u003e There has been much consolidation in the industry as the number of smokers rates in the US and other western markets has fallen due to increasing health consciousness and greater regulation and taxes.\u003cbr/\u003e\u003cbr/\u003e Jasper Lawler, an analyst at CMC Markets, said the companies are a good fit: “Their reach is very global between the two and there’s actually not too much overlap. So it may not face the kind of regulatory hurdles in terms of competition that some of these companies do. But I think this is just necessary for the industry. It’s declining in a big part of the developed world and it needs to spread its access and be able to control prices a bit more.”\u003cbr/\u003e\u003cbr/\u003e To diversify, all big tobacco firms are investing in electronic cigarettes. BAT and Reynolds already cooperate in developing vaping products and BAT said building on the popularity of e-cigarettes was also a “motivation” behind the deal.\u003cbr/\u003e\u003cbr/\u003e BAT is based in the UK and this would be biggest acquisition by a British company since the referendum decision to leave the European Union. \u003cbr/\u003e\u003cbr/\u003e Since that vote in June, shares in BAT have soared to all-time highs as investors bet the falling pound would boost the profits of companies that make most of their revenue outside the United Kingdom. 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