Tobacco giant BAT makes 47-billion-dollar takeover bid for US rival

London (dpa) - British American Tobacco Plc said on Friday it has offered some 47 billion dollars to acquire 57.8 per cent of shares in a takeover of US rival Reynolds American Inc.The proposed takeover of Reynolds, in which BAT already owns 42.2 per cent of shares, would create "a broader, larger business, delivering more diversified sources of profit growth," BAT said in a statement.The tobacco giant said the takeover would create the world‘s largest listed tobacco company by net turnover and operating profit, with "a unique portfolio of strong brands" including Newport, Kent and Pall Mall.BAT would gain a leading position in the United States and a strong presence in "high-growth emerging markets across South America, Africa, the Middle East and Asia, together with the most attractive developed markets," it said."We have been a shareholder in Reynolds since its creation in 2004 and have benefited from its growth in the US market," said Nicandro Durante, BAT‘s chief executive."The proposed merger of our two great companies is the logical progression in our relationship and offers all shareholders a stake in a stronger, truly global tobacco and Next Generation Products company," Durante said.