JT Extends Vector Tender

Japan Tobacco has withdrawn and refiled its premerger notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act) in connection with the JT Group’s pending acquisition of Vector Group.

On Sept. 4, 2024, the JT Group commenced a cash tender offer to purchase all outstanding shares of common stock of Vector Group for $15 per share.

JT withdrew and refiled its premerger notification and report form to provide the Federal Trade Commission with additional time for review. Following such refiling, the waiting period under the HSR Act will expire Oct. 3, 2024, at 11:59 p.m. Eastern Time.

The acquisition is expected to be completed by the end of JT Group’s current fiscal year, ending Dec. 31, 2024, subject to receipt of antitrust approvals and satisfaction of customary closing conditions.