JT Group Acquires Vector Group for $2.4 Billion in Cash

Japan Tobacco Group entered a merger agreement with Vector Group Ltd. (VGR) on August 21, 2024, to acquire the U.S.-based tobacco maker for $2.4 billion in cash.

Deal Structure:

Under the terms of the deal, JT Group will offer to acquire all outstanding shares of Vector Group common stock for $15.00 per share in cash, representing a premium of 7.22% from the stock’s last close.

Company Profile:

Vector Group is a Miami-based company that makes and sells cigarettes and invests in real estate projects like condos, mixed-use developments, and commercial properties.

Japan Tobacco is a Tokyo-based company that makes and sells tobacco products, medicines, and processed foods worldwide, with brands like Winston and Camel.

Deal Details and Timeline:

Following the closing, which is expected in the fourth quarter of 2024, Vector Group will become a wholly-owned subsidiary of JT Group.

Vector Group’s current EV/EBITDA (TTM) ratio is 8.40, below the sector median of 11.94.

Deal Metrics:

For more comprehensive details about this merger and acquisition transaction, visit the Deal Metrics page at:

Deal Metrics for the acquisition of Vector Group Ltd. (VGR) by JT Group

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• A spread history chart from the announcement to the completion or failure of the merger.
• Progressive events such as the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• News updates and SEC filings related to the deal.
• A historical record of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article