The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

By Andrew Khouri, Los Angeles Times

Cigarette-maker Reynolds American Inc. said it’s in talks to acquire Lorillard Inc., a deal that would combine the nation’s second- and third-largest tobacco firms.

After months of unconfirmed reports, the two cigarette makers acknowledged the talks Friday. If completed, the deal would create a tobacco behemoth, one with a strong foothold in the increasingly popular electronic cigarette market.

The companies, two of the nation’s oldest, had more than $13 billion in combined sales last year.

Reynolds American, the nation’s second-largest tobacco company, produces the Camel and Pall Mall cigarette brands. Greensboro, N.C.-based Lorillard owns Newport, the popular menthol brand. And it has a strong presence in e-cigarettes with its blu and Skycig brands.

Reynolds, of Winston-Salem, N.C., also owns the e-cigarette brand Vuse.

The companies said there was no guarantee a deal would be reached.

If they combine, Reynolds, founded in 1875, and Lorillard, in 1760, would likely prove a strong challenger to Altria, the nation’s largest tobacco maker and parent of Philip Morris.

Also on Friday, the United Kingdom’s Imperial Tobacco Group said discussions are underway with Reynolds and Lorillard to acquire some of its brands and assets.

AFP Photo/Daniel Barry

Interested in national news? Sign up for our daily email newsletter!

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Donald Trump

Youtube Screenshot

This Tuesday, October 4 is the official release date for New York Times reporter Maggie Haberman’s new book, Confidence Man: The Making of Donald Trump and the Breaking of America. Excerpts from the book have been widely reported, and one of the anecdotes being reported by Axios involves Trump’s desire to display the Superman logo when he was discharged from Walter Reed Medical Center in Bethesda, Maryland in October 2020.

Keep reading... Show less

Matt Gaetz

Youtube Screenshot

Last week, Rep. Matt Gaetz (R-Fla.) voted against a government funding measure that contained $18.8 billion in federal disaster aid for natural disasters, including Hurricane Ian, which just ravaged his home state. Gaetz was one of 15 Florida lawmakers who voted against it.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}