BAT joins forces with Rothmans in $8.67 billion deal
Article Abstract:
Rothmans International BV has agreed to a $8.67 billion merger with British American Tobacco PLC. Industry analysts have said that the deal between the world's fourth and second-largest global cigarette manufacturers may be the beginning of a new era of consolidation in the troubled tobacco industry. The two tobacco companies, whose market share position will trail industry-leader Philip Morris Cos., will reduce costs through sharing sales and distribution networks. The new company, which will be called BAT, is expected to cut jobs out of a combined 70,000-employee workforce. Industry analysts have said that the new company will have to create a strong brand to compete in emerging markets in Asia and Africa.
Comment:
Rothmans International BV has agreed to a $8.67 billion merger with British American Tobacco PLC.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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U.K. sets date for tobacco trial, a first in Europe
Article Abstract:
Imperial Tobacco PLC and Gallaher Group PLC, which control 80% of the tobacco market in Britain, UK, will face a January 2000, trial date for a landmark lawsuit brought by 53 plaintiffs. Although the trial has been given up to six months of court time, British Judge Michael Wright left hanging the issue of how many plaintiffs will be allowed to participate. According to the British plaintiffs, the two tobacco producers were able by the 1950's that their products were lethal but negligently refused to cut tar levels and to strengthen warning labels.
Comment:
Along with Imperial Tobacco, will face a 1/2000, trial date for a landmark lawsuit brought by 53 plaintiffs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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B.A.T. finds breaking up isn't hard to do
Article Abstract:
B.A.T. Industries PLC will separate its tobacco business from its financial services operations. Under the plan, the financial services operations will be merged with Switzerland's Zurich Group, while the tobacco business will become an independent company to be called British American Tobacco PLC. Meanwhile, Allied Zurich PLC, the name of the holding company for the merged financial services business, will start trading in London, UK, and Zurich. British American, meanwhile, will be launched in London.
Comment:
Will separate its tobacco business from its financial services operations
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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