British American Tobacco (BAT) has sold a 3.5% stake in Indian conglomerate ITC through block deals, raising INR 166.9bn (£1.5bn) from 436,851,457 shares at a ~7% discount to ITC's closing price. This equates to INR 382 per share. The stake sale has sparked market reactions and speculations on ITC's future performance.
Altria Reducing Stake in ABI by ~20%; Selling Off Over $2 Bil; BUD Stock Down More Than 5% #AnheuserBusch #ABInBev https://t.co/JeEltfkJi0
Altria shares jumping today after trimming its stake in Budweiser owner AB InBev! @timseymour thinks it makes $MO more attractive @guyadami gives his take. https://t.co/NC0ZEhgI2L
Altria’s Sale of Anheuser-Busch Stock Is Smart. It Should Unload the Whole Stake. https://t.co/fDVC1t8p6x
🔴 The owner of Marlboro cigarettes is to sell $2.2bn (£1.7bn) of shares in AB InBev after the Bud Light brewer’s sales fell following a backlash over an ad campaign featuring a transgender influencer https://t.co/oxaypqGUKU
Budweiser-owner AB InBev slides 4% after trading suspension as Altria sells stake https://t.co/Rgb1yr137m
⚠️ ALTRIA ADDS $2.4 BILLION TO SHARE REPURCHASE KITTY, LIFTS EARNINGS FORECAST ON AB INBEV STAKE SALE Full Story → https://t.co/ZCWLlnSkML Altria Group expanded its share buyback program by $2.4 billion and raised its annual profit forecast on Thursday, after the Marlboro… https://t.co/GDzZiHXKhV
*ALTRIA GROUP IS SAID TO RAISE $2.15B IN AB INBEV SHARE SALE
Can ITC share price touch Rs 500-mark after BAT deal? https://t.co/HFWRuEpDjo
Coal India share price target 2024: Rs 24.40 dividend in 1 year! BUY PSU stock? https://t.co/rTiDRZiaGL
BUY: High dividend paying PSU stock is Sanjiv Bhasin's top pick - Check share price target https://t.co/SDdiJfCTTY
Brokerage Radar | Jefferies on Coal India maintains buy with target price of Rs 520 @Jefferies @CoalIndiaHQ https://t.co/x4PTl4jDxd
Brokerage Radar | Jefferies on ITC maintains hold with target price of Rs 430 @Jefferies @ITCCorpCom https://t.co/mFFF80bErV
Live news: Marlboro maker Altria to sell more than $2.2bn of its AB InBev shares https://t.co/pdl1p2xZis
Altria Group plans to sell more $2 billion of its stake in Anheuser-Busch InBev as it looks to return more cash to shareholders https://t.co/gb2C3r9IQG https://t.co/gb2C3r9IQG
Altria Group plans to sell 35 million AB InBev shares https://t.co/ewZrL2LDqM https://t.co/bWnUjUL3BM
Altria Group Plans to Sell Part of Anheuser-Busch Stake https://t.co/h4i0jjz6td
Altria plans to sell a portion of its stake in Anheuser-Busch InBev to pay for its own share repurchases. https://t.co/c3fNM2Dr4Z
Altria $MO up 0.3% post-market after announcing $BUD stake sale British American Tobacco $BATS $BTI ADR up only 3.6% YTD after cutting ITC stake by 3.5% Philip Morris $PM up 6%+ since 20/21-Feb insider sales Each was touted as catalyst/signal None has made expected difference https://t.co/hhJFZPMndo
Altria $MO up 0.3% post-market after announcing $BUD stake sale British American Tobacco $BATS $BTI ADR up only 3.6% YTD after cutting ITC stake by 3.5% Philip Morris $PM up 6%+ since 20/21-Feb insider sales Each was touted as a catalyst/signal None has made much difference https://t.co/NFqGHd7fn7
Altria selling ~18% of $BUD stake for ~$2.26B to repo shares, which works out to saving about $200M in dividends payable. Another way to look at it is they are selling a chunk of one holding at 19x to retire shares < 9x forward so it's a start, I guess. https://t.co/jNx22YTySG
"Altria Announces Intent to Sell a Portion of its Investment in Anheuser-Busch InBev" $MO $BUD Selling 35m of 197m shares held (10% ownership) Also giving underwriters option for another 5.25m "In addition", $ABI to purchase $200m direct) To use proceeds for buybacks https://t.co/kcFT2Vqgv4
ITC Block Deal: BULLISH! THESE 2 entities buy nearly 10 cr shares of FMCG firm after BAT stake sale https://t.co/Xw6FEZIQEh
Another stake sale in ITC? After BAT, THIS public shareholder with 7.82% ownership to exit? Govt CLARIFIES https://t.co/0vvG3kPU4H
ITC share price target 2024: BUY after BAT block deal stake sale? Stock down 15% from all-time high https://t.co/k7038RgW0w
‘Short-term pain…’ - Sanjiv Bhasin on ITC-BAT stake sale - Market wizard sees BIG move! @sanjiv_bhasin https://t.co/dHTharqvEp
British American Tobacco ITC stake sale raised INR 166.9bn (£1.5bn) from 436,851,457 shares This equates to INR 382 per share, a ~7% discount to ITC closing price of INR404.45 the day before (Tue) $BATS $BTI $ITC https://t.co/8x4EHBFkXU
British American Tobacco ITC stake sale raised INR 166.9bn (£1.5bn) from 436,851,457 shares This eqates to INR 382 per share, a ~7% discount to ITC closing price of INR404.45 the day before (Tue) $BATS $BTI $ITC https://t.co/5fbQb66FZQ
ITC-BAT Stake Sale, Block Deal: British American Tobacco offloads 3.5% stake in FMCG giant - details https://t.co/JA6k8lTIoW
LIVE | BAT sells 3.5% stake worth via block deals in ITC https://t.co/4pTejMU8jb
ITC-BAT stake sale news: BUY, SELL or HOLD? Know brokerages share price target on Indian conglomerate https://t.co/k1mBEPcYmT
BAT to sell 3.5% stake in ITC; offers shares at 5% discount - ET NOW's Vinni explains @vinnii_motiwala https://t.co/ljKWn2dzng