Moody's affirms Reynolds American's Baa3 ratings; changes outlook to positive
New York, January 18, 2017-- Moody's Investors Service, affirmed the Baa3 ratings of Reynolds American Inc. and changed the outlook to positive from developing. This follows the announcement that British American Tobacco had made an offer to acquire the outstanding 57.8% of Reynolds shares that it does not already own for roughly $25 billion in cash and $25 billion in BAT shares. This represents a total enterprise value of approximately $97 billion, including $13 billion in net...
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