NEW YORK (CNNMoney)
Reynolds American and Lorillard announced a $27.4 billion merger on Tuesday that will bring together the No. 2 and No. 3 U.S. cigarette makers.
But both companies' shares have been posting significant gains since the first reports of the merger talks earlier this year: Reynolds is up 26% through the close of trading Monday, while Lorillard is up nearly 33%.
http://money.cnn.com/2014/07/15/news/companies/tobacco-merger/index.html?hpt=hp_t2
