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.
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