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Rothmans: Bid forSanta Fe to stand
Jump to full article: Winston-Salem (NC) Journal, 2001-12-05
Author: Brian Louis / JOURNAL REPORTER
Intro: Rothmans Inc., which has been competing with R.J. Reynolds Tobacco Holdings Inc. to acquire Santa Fe Natural Tobacco Co., said yesterday that it isn't considering increasing its offer to buy Santa Fe, the maker of American Spirit cigarettes.
However, Roth-mans has until the close of business Monday to make another offer for Santa Fe, a privately held company based in Santa Fe, N.M. Santa Fe also has a manufacturing plant and distribution center in Oxford.
Rothmans, which is based in Toronto, said that it "does not contemplate increasing the value" of its offer of $353.7 million in cash, stock and bonds for Santa Fe. Rothmans made its revised offer last week. . .
An RJR-Santa Fe deal is subject to conditions, including approval by Santa Fe shareholders and regulatory approvals, RJR said. If the deal goes through, RJR said, Santa Fe will operate as an independent subsidiary.
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