|February 25, 2013|
|06:06 EDT||PM, BTI||Japan government to sell 16.6% of its shares in Japan Tobacco, WSJ reports|
Japan's government is planning to reduce its stake in Japan Tobacco, potentially raising about $10B to help pay for reconstruction projects related to the March 2011 earthquake and nuclear disaster, reports the Wall Street Journal. The Finance Ministry said it plans to sell 333.33M shares, or 16.6% of its outstanding shares, next month. As a result, the government's stake will fall to about a third of the company from half now. The offer price will be determined between March 11 and March 13. Reference Link
News For PM;BTI From The Last 14 Days
Check below for free stories on PM;BTI the last two weeks.
|March 10, 2014|
|10:13 EDT||BTI||Reynolds American advances after Citi says could be takeover target|
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|06:12 EDT||BTI||Reynolds American target raised to $66, added to Focus List at Citigroup|
Citigroup raised its price target for Reynolds American (RAI) shares to $66 from $58 and added the stock to its U.S. Focus List following meetings with management. Citi's new target assumes the possibility that British American Tobacco (BTI) could purchase the remaining 58% of Reynolds it does not already own at a price of $70 per share. Citi keeps a Buy rating on the stock.
|March 7, 2014|
|08:49 EDT||BTI||On the Fly: Periodicals Wrap|
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|06:22 EDT||BTI||Cigarette manufacturers surge on deal discussions, FT says|
Shares of Reynolds American (RAI) and Lorillard (LO) have surged this week on interest in a possible deal between the companies that together encompass 40% of the $90B U.S. tobacco market, reported the Financial Times. If Reynolds initiates a takeover bid for Lorillard, it could face counter-bids from companies like Imperial Tobacco (ITYBY). British American Tobacco (BTI) would also have a role since it owns 42% of Reynolds and holds five seats on the company's board. Reference Link
|March 4, 2014|
|08:46 EDT||PM||On the Fly: Periodicals Wrap|
WSJ: Softbank's (SFTBF) Son to take case for T-Mobile US (TMUS) to U.S. businesses...Philip Morris (PM) plans hybrid cigarette...DISH (DISH) to curtail ad-skipping for ABC (DIS) shows...Fiat Chrysler's (FIATY) Marchionne: No plan to sell assets now...Apple (AAPL) increasing China operations...REUTERS: Buffett's (BRK.A) succession plans remain vague...Bank of Ireland (IRE) holders Wilbur Ross, Fairfax (FRFHF) to sell 6.4%...Loral Space (LORL) hires Perella to advise on sale...BLOOMBERG: Apple's (AAPL) CarPlay leaves out Pandora (P), Google (GOOG) Maps (Businessweek)...Qualcomm (QCOM) eyes growth from chip, licensing revenue...OTHER NEWS: Twitter (TWTR) password reset requests due to error, not breach, Re/code reports...Gartner: Worldwide tablet sales grew 68% to 195.4M units in 2013, DigiTimes reports.
|06:17 EDT||PM||Philip Morris plans hybrid cigarette, WSJ reports|
Philip Morris International's new “reduced risk product” is a hybrid, a black, cigarette-shaped tube with a battery and electronics. On one end is a miniature cigarette, a couple of inches long, paper filled with real tobacco. If it's successful, they'll be available in test markets later this year, reports the Wall Street Journal. These bets are worth watching in the tobacco industry, whose core product is in long-term decline.Reference Link
|March 3, 2014|
|08:48 EDT||BTI||British American Tobacco downgraded to Neutral from Buy at Goldman|
|February 26, 2014|
|08:16 EDT||PM||Philip Morris comments on Tobacco Products Directive|
Philip Morris International Inc.’s EU Region President Drago Azinovic made the following comment regarding the adoption by the European Parliament of the Tobacco Products Directive: "The Tobacco Products Directive adopted by the European Parliament today represents a worrying departure from the EU’s basic standards of proportionate, evidenced-based policymaking, which will further erode intellectual property rights and undermine the EU Charter where these rights are protected. Instead of further harmonizing the internal market, a stated objective of the Directive, measures in the TPD will make the EU less competitive and be a gift for the criminals profiting from the black market in tobacco. This will be a blow to the hundreds of thousands of people working in the legal industry and member state governments now faced with filling budget gaps."