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UNITED STATES

BAT-RAI merger clears US antitrust hurdle

10 Mar 2017. US antitrust regulators will allow the USD 49.4 billion (EUR 46.6 billion) buyout of Reynolds American (RAI) by British American Tobacco (BAT) to go forward, the companies said.

The waiting period, usually 30 days, required after transaction details are filed with antitrust authorities has expired. Neither the Department of Justice nor the Federal Trade Commission asked for additional information during the period, which satisfies the closing condition related to US antitrust approval, the companies said.

Shareholders at BAT and RAI have yet to approve the deal, and regulatory clearance is required from Japan. The companies said they continue to expect to close the transaction in the third quarter of this year.