Media reports released Monday afternoon suggested that Reynolds American (RAI) is considering making an offer to acquire Lorillard Inc. (LO).
Lorillard gapped up at the open Monday and rose further in the afternoon, after the report began to circulate. The stock closed up by 4.55 at $53.61 on the highest volume of the year. Lorillard climbed past resistance and set a new high for the year.
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