RICHMOND, Va. — Cigarette makers Reynolds American Inc. and Lorillard Inc. on Friday said they are in talks of a possible merger that would combine two of the nation's oldest and biggest tobacco companies.
The announcement follows media reports over the past few months about the possible combination that would create a formidable No. 2 to rival Altria Group Inc., owner of Philip Morris USA, and could spur a wave of consolidation in the tobacco business.
In separate statements, the companies said no agreement has been reached and there's no assurance that one will be.
Read tomorrow's Arkansas Democrat-Gazette for full details.