Recently, Japan Tobacco (JT) (Tokyo Stock Exchange code: 2914) announced on its official website that the company has completed the acquisition of Vector Group Ltd. (VGR) on October 7th.
The tender offer began on September 4, 2024, and ended on October 4, 2024, at 11:59 p.m. Eastern Daylight Time. Due to the satisfaction of the conditions of the offer, JT Group accepted all submitted shares and completed a statutory merger with Vector Group Ltd. on October 7, 2024. Vector Group Ltd. became a wholly-owned subsidiary of JT Group and was delisted from the New York Stock Exchange on the same day.
JT stated that this acquisition aligns with the company's tobacco business strategy. The acquisition is expected to significantly increase JT's market share and distribution network in the United States, leading to higher returns on investment in the combustible tobacco business. The United States is the second-largest tobacco sales market globally and one of the most profitable markets.
The headquarters of VGR is located in Florida, USA, and through its subsidiaries, engages in the manufacturing and selling of cigarettes in the United States.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
