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RJR boosts Santa Fe bid, awaits Rothmans' move 

Jump to full article: Canadian Press, 2001-12-04

Intro:

WINSTON-SALEM, N.C. -- The bidding for Santa Fe Natural Tobacco Co. heated up further yesterday with a sweetened $340-million (U.S.) all-cash bid from R.J. Reynolds Tobacco Holdings Inc.

The latest offer from the second-largest U.S. tobacco company -- improving on its previous bid of $320-million -- followed an increase in a cash-and-shares offer from Toronto-based Rothmans Inc.

Rothmans valued its proposal at $353.7-million, up from its opening bid of $275-million for the privately held tobacco company based in Santa Fe, N.M., which makes additive-free, organic cigarettes sold under the American Spirit brand in the United States.

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