Court clears the way for Reynolds American to acquire Lorillard June 12
GREENSBORO, N.C. — A federal district court has cleared the way for Reynolds American Inc. to acquire Greensboro-based Lorillard Inc. in a $27.4 billion deal.
Reynolds said in a news release it expects to close the deal this Friday.
The merger approved by the Federal Trade Commission in May would require Reynolds to sell four established brands to Imperial Tobacco Group’s U.S. subsidiary ITG Brands.
As part of Lorillard ’s sale to Reynolds, ITG would take control of Lorillard ’s manufacturing, headquarters and research operations in Greensboro.
Read more: Greensboro News & Record