Imperial Tobacco acquires Altadis

Madrid: Imperial Tobacco has acquired Franco-Spanish tobacco company Altadis for €16.2bn (£11bn). Imperial Tobacco had made two offers worth €45 (£30) and €47 (£32)-a-share for the company in April but they were both rejected by Altadis. However, the board of Altadis confirmed it would recommend Imperial's latest offer of €50 (£34)-a-share to its shareholders.