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Market Update

Reynolds and Lorillard in $56 Billion Merger Talks

Author: Bikram Pandey
Last Update: 1:10 PM ET July 11 2014

Lorillard and Reynolds America confirmed merger talks and if successful the combined company will have $56 billion of worth. If consummated, the merger will combine the second- and third-largest tobacco makers.

Lorillard had net sales of $6.7 billion in 2013 and Reynolds reported net sale of $8.3 billion in the year.

British American Tobacco is the largest shareholder with a stake of 42% in Reynolds America and involved in the merger talks. BAT is seeking to retain its 42% stake in the merged company.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc