Gallaher backs Japanese takeover offer
London (dpa) - British tobacco giant Gallaher Group Plc Friday backed a takeover offer of 7.5 billion pounds (19.08 billion dollars) from Japan Tobacco, the world's third largest tobacco company.
Gallaher, the makers of Benson & Hedges and Silk Cut, employs 12,000 people worldwide.
The company's roots date back to 1857 when Tom Gallaher started a business making Irish roll tobacco in Londonderry, Northern Ireland.
Gallaher chairman John Gildersleeve said: "The importance of scale, a broad geographical coverage and a leading and diversified brand portfolio are becoming increasingly apparent." // © 2006 DPA
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