LONDON - British American Tobacco said on Friday it had launched a $47-billion (43-billion-euro) takeover bid for control of US giant Reynolds American.
Employees at British American Tobacco (BAT) smoke cigarettes on a specially provided terrace at the company's head office in central London
The cash-and-shares offer would see BAT purchase the 57.8-percent of Reynolds American that it does not already own, it said in a statement, adding that it had not yet held formal talks.