Photographer: Daniel Acker/Bloomberg

Reynolds American Rejects BAT’s $47 Billion Buyout Offer

Updated on
  • U.S. cigarette seller said to seek a higher price during talks
  • BAT said to be willing to increase its offer price slightly

Reynolds American Inc., the second-largest cigarette seller in the U.S., is seeking a higher price from British American Tobacco Plc after rejecting a $47 billion buyout offer as too low, according to people familiar with the matter.

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