Reynolds American (RAI) said federal district court acceptance of the deal to acquire Lorillard and spin off assets to Imperial Tobacco removed the last hurdle, and the transaction would be closed on 12 June.

Court approval of the acquisition that received a green light in May from US anti-trust regulators came in connection with a previously existing lawsuit brought by the US government against tobacco companies, including RAI and Lorillard subsidiaries.
British American Tobacco, the fourth party in the deal valued at USD 27.4 billion (EUR 24.3 billion), will invest roughly USD 4.7 billion to maintain its stake in RAI at 42 per cent. RAI will acquire Lorillard’s flagship Newport brand and spin off Kool, Salem and Winston to Imperial. The UK cigarette maker also acquired Lorillard’s physical plant, and the e-cigarette maker Blu.