RJR to buy British American's U.S. tobacco assets This merger seems to have gotten overshadowed by the Bank of America/Fleet Boston merger. This article delves into the way that the financials will be affected. The interesting portion is that one is a U.S based company and the other is based in the UK.

R.J. Reynolds Tobacco Holdings Inc. agreed on Monday to acquire British American Tobacco PLC's U.S. cigarette business and a second unit for about $3 billion, creating a stronger No. 2 competitor to market leader Philip Morris. The new entity, to be called Reynolds American Inc., will boast annual revenues of about $10 billion and more than 30 percent of the cigarette sales in the United States, the companies said.