Reynolds American, Inc. Closer To Completing Acquisition By British American Tobacco

In a statement, Reynolds announced that it has cleared the second of two antitrust hurdles needed to complete its sale to British American Tobacco.

The first was a federal waiting period that expired in March. Now, Japanese regulators have given the green light, too.

BAT needed that approval because Japan Tobacco owns the international rights to the Natural American Spirit cigarette brand.

Reynolds now says it expects to close its $49 billion deal with British American this summer, if everything else goes according to plan.

The Winston-Salem-based tobacco company announced the acquisition back in January.

British American has said it has no plans to move Reynolds North Carolina facilities or make significant changes to its workforce.