RAI shareholders approve three proposals to move merger forward.
Reynolds American Inc. (RAI) announced that its shareholders have given their approval for the company’s acquisition by British American Tobacco p.l.c.’s (BAT).
The transaction is expected to close on or about July 25, 2017, and once completed the merged company will be the world’s largest publicly-traded tobacco entity.
RAI shareholders approved three proposals including the ‘Agreement and Plan of Merger’ through which RAI will become an indirect, wholly-owned subsidiary of BAT; the compensation payments on a non-binding basis and the adjournment of the special meeting, if required.