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Article: Japan Tobacco linked to takeover BUSINESS ASIA by Bloomberg

Article from:
International Herald Tribune
Article date:
December 8, 2006
Author:
Copyright

Patrick Rial
International Herald Tribune
12-08-2006
Shares of Japan Tobacco, the world's third-biggest maker of cigarettes, jumped 4.75 percent Thursday. after a report it approached smaller rival Gallaher Group about a takeover.Japan Tobacco contacted Gallaher, owner of Benson & Hedges and Silk Cut brands, The Financial Times reported on its Web site, citing people familiar with the situation. Gallaher said Wednesday that it had received a buyout offer. Japan Tobacco said in a statement that it had made no announcement on an acquisition of the British tobacco maker.The former Japanese government monopoly needs overseas growth as demand slows in its home market, where sales have ...

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