British American Tobacco has rolled up its takeover of US rival Reynolds. <br /> <br />That comes after BAT improved its offer. It will pay $49.4 billion (46.2 billion euros) – for the 58 percent of Reynolds that it does not already own. <br /> <br />The deal will create the world’s biggest listed tobacco company, overtaking Philip Morris International. <br /> <br />#ReynoldsAmerican well-positioned as number two player in profitable US market, with 34% market share https://t.co/LKEIEWxUio— BAT Press Office (@BATPress) January 17, 2017 <br /> <br />It marks the return of UK based BAT to the lucrative and highly regulated US market after a 12-year absence. <br /> <br />It is the latest consolidation in the industry which is shrinking in the West as fewer people smoke. <br /> <br />Analysts said the takeover could spark further deals involving Philip Morris, Japan Tobacco, Imperial Brands and Altria Group as they all jostle for market share.
