Reynolds American Inc. (RAI) and Lorillard, Inc. (LO) announced that each company has received a request for additional information from the Federal Trade Commission in connection with Reynolds American's pending acquisition of Lorillard and divestiture of select brands to Imperial Tobacco Group. The companies continue to expect the transactions to close in the first half of 2015.
The companies noted that the FTC request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended and is a normal part of the regulatory review process. The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Reynolds American and Lorillard have substantially complied with the request.
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