British American Tobacco's $49B Reynolds Buy Gets OK'd

By Eric Kroh (April 6, 2017, 1:30 PM EDT) -- British American Tobacco plc on Wednesday secured the clearance it needed to proceed with its $49 billion takeover of Reynolds American Inc., as Japan's antitrust regulator gave the deal the green light.

Japanese authorities granted the transaction unconditional approval, Reynolds said in a statement. The clearance was the last remaining antitrust hurdle to consummate the deal after the U.S. Federal Trade Commission assented to the takeover, the company said.

"The conditions related to antitrust approvals required as part of the closing conditions to the proposed acquisition have now been satisfied," Reynolds said. "RAI continues to expect the transaction to close in...

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