“Tobacco is the one crop that runs through the agriculture industry – it’s the most lucrative crop, and it’s the industry with the deepest pockets.” Health campaigners have criticised the British American Tobacco (BAT) buyout of US firm Reynolds, which was approved by shareholders of both companies on Wednesday. The move, which will establish the world’s largest tobacco firm, came on the same day that the World Health Organization released a report into the actions of tobacco companies which are fighting anti-smoking laws across the world. BAT said it would pay $US1.3bn (£960m) to acquire Reynolds in an all-cash deal worth about US$1tn.
Health campaigners have criticised the British American Tobacco (BAT) buyout of US firm Reynolds, which was approved by shareholders of both companies on Wednesday. The move, which will establish the world’s largest tobacco firm, came on the same day that the World Health Organization released a report into the actions of tobacco companies which are fighting anti-smoking laws across the world. BAT said it would pay $US1.3bn (£960m) to acquire Reynolds in an all-cash deal worth about US$1tn.