British American Tobacco buys out Reynolds American for $49B

British American Tobacco has agreed to buy out U.S. rival Reynolds American in $49.4 billion deal. The purchase would create the world’s largest publicly traded tobacco business, combining brands like Camel, Lucky Strike, Newport and Pall Mall. The UK company initially offered to buy 57.8 percent of Reynolds American for $47 billion, but it was rejected last November. Last year, Reynolds completed its $25 billion purchase of U.S. rival Lorillard.