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In the third quarter of this year, Reynolds held a 34.6 percent of the market share, making it the second-largest US tobacco company behind rival Altria

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Altogether, British American Tobacco will pay $59.64 a share for Reynolds, which represents a 26% premium over its closing price in October before any offer had been made

The adjustment aims to align taxation with important health initiatives, protect public health, and ensure responsible consumption, while Canadian vapers may notice slightly higher costs when purchasing pods and related vaping products