Imperial Tobacco Agrees to Acquire Dragonite’s E-Cigarette Unit
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Imperial Tobacco Group Plc, Europe’s second-biggest tobacco company, agreed to buy Dragonite International Ltd.’s electronic cigarette unit for $75 million as it seeks to close the gap on competitors in new products.
The acquisition depends on the approval of Dragonite shareholders, according to Imperial Tobacco spokesman Simon Evans, who declined to comment further today.