Japan okays acquisition

British American Tobacco said yesterday that it had obtained unconditional antitrust approval from the Japanese authorities in relation to its proposed acquisition of Reynolds American Inc.

‘Together with the previously announced expiry of the HSR Act [Hart-Scott-Rodino Antitrust Improvements Act ] waiting period, the conditions related to antitrust approvals required as part of the closing conditions to the proposed acquisition have now been satisfied, BAT said in a note posted on its website.

‘Both parties continue to expect the transaction to close during the third quarter of 2017, subject to satisfaction or waiver of the other closing conditions specified in the merger agreement.’

A similar statement was posted on RAI’s website.