Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, November 8, 2024

Article Excerpt

BRITISH AMERICAN TOBACCO PLC, $35.39, symbol BTI on New York, is a U.K.-based manufacturer of cigarettes and other nicotine products. Its cigarette brands include Lucky Strike, Pall Mall, Camel, and Newport. Other brands include Grizzly (chewing tobacco), Velo (nicotine pouches), Vuse (vaping), and Glo (heated tobacco). The company was formed in 1902 when Imperial Tobacco merged with the American Tobacco Company. It acquired Reynolds American Inc. and its R.J. Reynolds tobacco subsidiary in 2017. BAT’s subsidiary in Canada is Imperial Tobacco. Meanwhile, in March 2021, BAT made a $221 million strategic investment in Moncton-based cannabis producer Organigram Holdings Inc. (symbol OGI on Toronto). The investment gave the company a 19.9% stake in the cannabis producer. In addition, the two companies formed a partnership to develop new products. In late 2023, BAT announced it would provide Organigram with an additional $124.6 million in funding over three rounds. The first was on January 23, 2024. The second was at the end of August, and the…