Japan Inc.'s Buying Tour Reaches Britain

Japan Tobacco's $14.7 billion bid for Gallaher Group is the latest overseas offer by a Japanese company, and it would be the biggest

It's been more than a decade since Japanese companies went on this kind of buying binge. Japan Tobacco's $14.7 billion bid for British cigarette maker Gallaher Group (GLH), announced on Dec. 15, ranks as the biggest cross-border takeover by a Japanese company. The deal, which is pending approval by Gallaher's shareholders, would bring together the world's fifth- and third-largest tobacco makers, respectively. Japan Tobacco would pocket some well-known names, including Benson & Hedges and Silk Cut, and gain a presence in growing markets like Russia and Eastern Europe.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.