FTC Approves Reynolds' Purchase of Cigarette Rival Lorillard

May 26, 2015 11:41 PM

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Reynolds American's proposed $25 billion acquisition of rival Lorillard has cleared a key regulatory hurdle to move closer to completing a deal that will unite some of the nation's top cigarette brands.

The Federal Trade Commission gave its consent Tuesday after wrapping up a 10-month review that concluded Reynolds' previously announced divestiture plans will be enough to preserve competition in the U.S. cigarette market.

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