British American Tobacco offered Friday to buy Reynolds American Inc. in a $47 billion US cash-and-stock deal that would create the world's largest publicly traded tobacco company and bring together brands like Camel, Dunhill, and Newport. Investors would receive $24.13 in cash and 0.5502 of a BAT share for each Reynolds share they own. The deal values Reynolds, based in Winston Salem, North Carolina, at $93 billion US. The deal would unite BAT's global operations with the second-largest tobacco company in the United States. The deal would have to be approved by the independent directors of Reynolds and shareholders of both companies.

Source: CBC News October 21, 2016 11:26 UTC