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34 Views

Lorillard Investor Sues to Halt $25 Billion Reynolds Deal

“To the detriment of the company’s shareholders, the terms of the merger agreement substantially favor Reynolds and are calculated to unreasonably dissuade potential suitors from making competing offers,” the investor, Vincent Valentino, said in the compl
Business Week/Bloomberg
added Jul 23, 2014 20:51
20 Views

[UK] Tobacco – Australia data provides ammunition for plain packaging elsewhere

Alert: Significant drop in smoking rates there likely to be used by UK government as evidence that plain packaging “works”
Citi Research
added Jul 23, 2014 15:47
6 Views

[Australia, UK] Tobacco and fossil fuels lose out as investors opt for more ethical industries

Managed funds held in ethical and sustainable investments grew by 51% in the past 12 months to more than $25bn, research shows. The Responsible Investment Association Australasia says the number of investors demanding to see their money invested respons
AAP (Australian Associated Press) (au)
added Jul 23, 2014 15:25
25 Views

Altria's (MO) CEO Marty Barrington on Q2 2014 Results - Earnings Call Transcript

composition of the TPSAC was flawed by appointment of people that had conflicts of interest....So I'm sure that we’re trying to be a constructive partner at FDA but it's important for the integrity of the system that everybody play by the rules. So I'm su
Seeking Alpha blog network
added Jul 22, 2014 17:46
16 Views

Reynolds American's merger and a massive fine could snare tobacco muni bonds

A stream of news out of the tobacco industry has failed to derail prices on municipal bonds backed by cigarette makers. But muni bond analysts warn that investors could get caught in the middle as the big players in the tobacco industry shift.
MarketWatch (Wall St. Journal)
added Jul 22, 2014 13:12
7 Views

Cigarette Maker Altria's 2Q Profit Flat

posted flat second-quarter earnings Tuesday as higher prices helped to offset decline in the number of cigarettes it sold. The owner of the nation’s biggest cigarette maker, Philip Morris USA, also announced a new $1 billion share buyback program to be c
AP - Associated Press
added Jul 22, 2014 13:07
3 Views

Cigarette Shipment Volumes Weigh on Altria ($$)

Profit of $1.26 Billion Is Down Slightly From Year-Ago Period; Smokeless Products Remain Bright Spot
The Wall Street Journal Interactive Edition
added Jul 22, 2014 13:06
24 Views

Tobacco stocks fall after $23bn Reynolds ruling

Big tobacco stocks stumbled yesterday as investors expressed caution in the aftermath of the $23.6bn (£13.8bn) damages award levelled against Reynolds American by a US judge on Saturday.
City A.M. (uk)
added Jul 22, 2014 06:59
27 Views

Tobacco stocks burned by $23.6 billion judgment

Investors dropped other tobacco stocks, too, though the declines were not as steep as Reynolds'. Shares of Altria Group slipped about 2%. Philip Morris fell about 1% and Lorillard dropped nearly 3%.
KNXV-TV ABC 15 (Phoenix, AZ)
added Jul 21, 2014 13:21
33 Views

Why Big Tobacco Shrugs at a $24 Billion Verdict

Meanwhile, Reynolds, the No. 2 manufacturer, agreed this month to buy Lorillard (LO), the No. 3 competitor, for $25 billion. The savvy financial engineers behind that deal clearly see at least a short- and medium-term future of profitability in cigarette
Business Week/Bloomberg
added Jul 21, 2014 13:17
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