Japanese 'to buy British tobacco giant'

Japan Tobacco has agreed to acquire Britain’s Gallaher Group for nearly £10bn (€14.9bn), the largest corporate acquisition by a Japanese company, it is reported today.

JT, the world’s third-largest tobacco company, and Gallaher, which owns the Benson & Hedges and Silk Cut brands, are expected to announce the 2.2 trillion yen deal as early as today, according to a report by Nihon Keizai Shimbun, Japan’s largest business daily.