• In this Friday, July 17, 2015 file photo, Camel and Newport cigarettes, both Reynolds American brands, are on display at a Smoker Friendly shop in Pittsburgh. British American Tobacco offered Friday, Oct. 21 2016 to buy Reynolds American Inc. in a $47 billion cash-and-stock deal that would create the world’s largest publicly traded tobacco company and bring together brands like Camel, Dunhill, and Newport. The logic of the deal, analysts say, is to make up for a decline in the number of smokers in their home markets of the U.S. and Britain as they look to developing markets and new products, such as electronic cigarettes. (AP Photo/Gene J. Puskar, file)

    $47 billion offer to create world’s biggest tobacco company

    LONDON (AP) — British American Tobacco has offered to buy out Reynolds American Inc. for $47 billion in an attempt to gain a strong presence in the U.S., a lucrative market where sales of electronic cigarettes are booming as traditional smoking fades.