Japan Tobacco (TYO:2914) completed the acquisition of US tobacco company Vector Group on Monday for $2.4 billion following a tender offer, a Tuesday filing on the Hong Kong bourse said.
Vector Group was delisted from the New York stock exchange the same day.
The purchase is expected to improve the tobacco company's ROI in combustibles by boosting its presence and distribution network in the US.
Shares of the firm closed 1% lower on Tuesday.
Price (JPY): $4288.00, Change: $-45, Percent Change: -1.04%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments