British American Tobacco (BAT) is to take control of US rival Reynolds in a $49.4bn (£40.69bn) deal that creates the planet's largest listed tobacco firm and unites some of the industry's best-known brands, the BBC reports.
The agreement comprises $25bn (£20.59bn) of BAT shares and $24.4bn (£20.1bn) in cash, valuing Reynolds at more than $85bn (£70bn).
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