Britain cleared Reynolds’ acquisition of Nabisco.

The Department of Trade and Industry said that Britain’s secretary of state for trade, Norman Tebbit, has decided not to refer the proposed acquisition to the Monopolies and Mergers Commission for further review. R. J. Reynolds Industries reported June 2 that it was offering $85 a share in cash for 50.2% of Nabisco Brand’s common stock and $85 a share in preferred stock and debt securities for the remaining shares. The British government reviewed the proposed merger because both companies have operations in Britain.