Tuesday 23 February 2016

Flag pole alert - part 7

Readers might recall the heightened speculation towards the back end of last year about British American Tobacco weighing a £50 billion break up takeover bid for Imperial Tobacco, now called Imperial Brands.

Well, I see Imperial Brands, formerly Imperial Tobacco, has just appointed Barclays as joint corporate broker alongside Credit Suisse.

Now, the reason that's interesting is back in late 2015 when the rumours were rife about BAT looking at Imperial Brands/Tobacco, Barclays was said to be one of the advisers working with BAT on the "project", dubbed "Bison".

However, I decided against running a proper/non-RARE story about BAT hiring Barclays as I could never fully stack it up with primary sources. And today's news adds to the circumstantial evidence that the rumour about BAT/Barclays/Imperial was complete [insert expletive here]!

Or, perhaps not...

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