By Benjamin Horney ( November 14, 2016, 5:24 PM EST) -- U.S. tobacco company Reynolds American Inc. has rejected British American Tobacco PLC's $47 billion takeover offer, Bloomberg reported on Monday. According to the report, Reynolds is holding out for a higher price tag. No other information was available as of late Monday afternoon. British American Tobacco unveiled its offer late last month, touting the union — which would unite cigarette brands Newport, Kent and Pall Mall — as one that would create a top contender in the global tobacco market....
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