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· Business (Tobacco)
· Smokeless
Organizations
· RJR
· Conwood
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Reynolds American Acquires Conwood for $3.5 Billion in Notes, Loans and Cash
Jump to full article: AP, 2006-05-31
Author: industry
Intro: Cigarette maker Reynolds American Inc. said Wednesday it completed a $3.5 billion purchase of the holding company that owns Memphis, Tenn.-based Conwood, a smokeless tobacco company.
Reynolds American funded the acquisition with proceeds of $1.65 billion of senior secured notes and loans under its $1.55 billion senior secured term loan facility and available cash.
Reynolds American plans to combine its Tucker, Ga.-based Lane Limited subsidiary with Conwood to drive growth in other tobacco products.
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