Reports

British American Tobacco gains 7.3 percent on sales in developing markets
British American Tobacco reported that profits rose 7.3 percept last year as it sold more tobacco in developing markets. With tobacco consumption in Western Europe decreasing between 2 and 2.5 percent a year because of higher taxes, advertising prohibitions, and smoking bans, the London based company has been forced to expand elsewhere. Click here for the press release.

Category wars: Philip Morris, RJR raise stakes to win retailers
Philip Morris USA plans to conquer the menthol cigarette category with the launch of Marlboro Smooth, as RJ Reynolds Tobacco seeks to loosen its rival’s hold on retail display space. The tag line of the new Marlboro Smooth product is “Menthol like no other” and will be marketed to a database of more than 26 million smokers. Smooth will join Marlboro Menthol, number two in the menthol category to Philip Morris’ leader Newport. Click here to read more.

Japan Tobacco wins takeover nod
Japan Tobacco, the world’s third-largest traded cigarette maker has won Russian antitrust approval for its takeover of Gallaher Group, the maker of Benson & Hedges cigarettes in Europe. Japan Tobacco will buy the Gallaher Group for $14 billion. The transaction is expected to conclude by mid-April. Click here to read more.

Altadis rejects € 11.5 billion bid from Imperial Tobacco
British cigarette manufacturer Imperial Tobacco made a € 11.5 billion takeover bid for Altadis, its Madrid-based rival. The takeover would have combined two of the world’s top five tobacco companies. Although Altadis has seen declining cigarette sales in Spain since the government banned smoking in offices and public places a year ago and has been losing market share to lower-priced brands, it rejected the bid as too low. Imperial Tobacco is considering next steps. Click here to read more.

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