Lorillard Seen as Reynolds Target

Source from:  Tobacco Reporter 03/24/2009

Lorillard could be a takeover target, according to a Reuters report quoting Barron's, which believes that, anyway, Lorillard's shares might be undervalued. In its March 23 issue, Barron's reports on 'talk' that Reynolds American might buy Lorillard at a price significantly above Lorillard's recent share price of $61. But it suggested also that a bidding war might ensue, involving Reynolds, Imperial Tobacco, Japan Tobacco and Philip Morris International. Enditem