Imperial Tobacco tables 11.5 bln eur offer for Altadis

Imperial Tobacco Group has made a long-anticipated move for its Franco-Spanish rival Altadis SA, valuing the maker of Gauloises and Fortuna cigarettes at 11.5 bln eur.

The British company, the fourth biggest global tobacco group, tabled a 45 eur per share proposal for Altadis, ranked number five.

Talks are at a 'very early stage' and the approach has been made on a friendly basis, an Imperial spokesman said.

Altadis said its board will meet in the next few days to decide on the offer.

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- Posted: 2007-03-15 10:14:22

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