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• Rothmans Won't Raise Santa Fe Offer 

Rothmans Won't Raise Offer for Santa Fe Natural Tobacco After RJR Ups Bid to $340 Million
Jump to full article: Associated Press (AP), 2001-12-04

Intro:

Canadian tobacco company Rothmans Inc., caught in a bidding war with R.J. Reynolds Tobacco Holdings Inc. for a small New Mexican cigarette maker, said Tuesday it doesn't plan to increase its offer for Santa Fe Natural Tobacco Co.

But Rothmans, which started the bidding for privately-held Santa Fe Natural in September, said it expects to receive an $11 million termination fee if R.J. Reynolds prevails.

``At present, Rothmans does not contemplate increasing the value of its enhanced offer announced on Nov. 30,'' Rothmans said in a statement Tuesday.

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