Japan Tobacco Acquires Vector Group, Expands US Presence

Japan Tobacco (JP:2914) has released an update.

Japan Tobacco Inc. has successfully acquired Vector Group Ltd., with the transaction resulting in Vector becoming a wholly owned subsidiary and its delisting from the NYSE. The acquisition, part of JT Group’s tobacco business strategy, aims to expand its presence in the lucrative US tobacco market. The tender offer concluded with a significant majority of shares tendered, cementing the deal at $15.00 per share.

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