OTHER NEWS - Dec. 23, 1994
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American Tobacco Sold to BAT Industries Ltd.: BAT finalized its $1-billion buyout of the company after placating regulators by agreeing to sell as many as nine cigarette brands. The Federal Trade Commission had gone to court to stop the deal, saying the move would significantly reduce competition in the U.S. market. The purchase brings brands such as Pall Mall, Lucky Strike and Tareyton to BAT. The agreement requires BAT to sell the discount brands Montclair, Riviera, Malibu, Bull Durham, Crowns and Special Tens in the U.S. market.
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