Reynolds American Inc., that produces Camel and Pall Mall cigarettes, plans on buying rival Lorillard Inc. for about for $27.4 billion. This deal means that the 400-year-old US tobacco industry is reduced to two major competitors. This newly merged tobacco company is supposed to give some competition to Altria Group (owner of Philip Morris), whose Marlboro brand makes up nearly half the cigarette … [Read more...]
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