The tobacco giant Reynolds American agreed today to buy its rival, Lorillard, bringing together two of the country’s biggest tobacco producers at a weakening time for the industry.
The deal, worth an estimated $27.4 billion, is expected to reshape the tobacco industry amid a longtime decline in smoking among Americans due to smoking bans, health concerns and social stigma.
The Wall Street Journal’s Jason Bellini and Here & Now’s Jeremy Hobson discuss what the merger of two of the nation’s oldest and biggest tobacco companies means for tobacco’s future.
- Jason Bellini, video reporter and senior producer for the Wall Street Journal. He tweets @jasonbellini.