Japan Tobacco finished the takeover of Britain’s Gallaher Group for $ 15 billion Wednesday, both sides said, in the biggest Japanese overseas acquisition ever.
The move also allows Japan Tobacco Inc., the world’s third-largest cigarette company, to expand outside of Japan, which has seen declining smoking rates.
The takeover of Gallaher, the maker of Silk Cut and Benson & Hedges cigarettes, also takes Japan Tobacco into Western Europe, where it now has little presence, creating a tobacco empire with annual global output of 600 billion cigarettes.
Japan Tobacco, the overseas distributor for Winston, Camel and Salem cigarettes, and Gallaher Group PLC had been expected to complete the deal, announced in December.
JT acquired the shares at £11.40 each, for a total of £7.5 billion, or $ 15 billion, and assumed an additional debt of about $ 4 billion under the deal, the company said.
Ban cigarettes from school campuses
Everyone claims they believe school children shouldn’t smoke. Everyone claims adults should set good examples for school children. But not everyone wants to back up their words with action.
On Wednesday, April 18, something inexplicable happened in the Education Committee of the Tennessee Senate – two local senators, Bill Ketron and Jim Tracy, voted to kill a ban on smoking on school grounds. (Tracy passed on the vote)
Current law allows adults, defined as anyone 18 years old or older, to smoke on school property after hours. In addition to the obvious bad example that seeing adults smoke sets for impressionable young people, ask yourself how many high school seniors are 18. Should they be allowed to smoke at school? They are now. Furthermore, current law bars local education authorities from completely banning smoking on school grounds. Should the state be …