UK tobacco giant BAT bids $47 bn for control of US rival Reynolds

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London (AFP)

British American Tobacco said on Friday it had launched a $47-billion (43-billion-euro) takeover bid for control of US giant Reynolds American.

The cash-and-shares offer would see BAT purchase the 57.8-percent of Reynolds American that it does not already own, it said in a statement, adding that it had not yet held formal talks.